Core Insights - The steel market is experiencing significant short-term volatility due to fluctuations in production, inventory, and demand data [1] Production Data - Rebar production decreased by 0.73 million tons to 2.2045 million tons - Hot-rolled coil production increased by 0.7 million tons to 3.1559 million tons - Total production of five major steel products rose by 2.42 million tons to 8.7163 million tons [1] Inventory Data - Total inventory of rebar increased by 30.51 million tons to 5.8719 million tons - Total inventory of hot-rolled coils rose by 0.84 million tons to 3.5747 million tons - Total inventory of five major steel products increased by 40.61 million tons to 14.1597 million tons [1] Demand Data - Apparent demand for rebar decreased by 20.85 million tons to 1.8994 million tons - Apparent demand for hot-rolled coils increased by 8.54 million tons to 3.1475 million tons - Apparent demand for five major steel products decreased by 14.72 million tons to 8.3102 million tons [1] Operational Insights - In Tangshan, 31 out of 87 rebar production lines were operational, resulting in an overall operating rate of 52.54%, up by 10.17% from the previous week - Capacity utilization rate was 48.34%, an increase of 6.82% from the previous week [1] Price Trends - Raw material price declines have led to lower finished steel prices, with significant inventory accumulation and decreased apparent demand contributing to weak market performance - Rebar's weekly fundamentals are weaker than hot-rolled coils, with a price drop of nearly 2%, and the main contract falling below 3200 [1] Market Outlook - The short-term outlook for the steel market is characterized by high volatility, with recommendations to consider buying on dips - Future attention should be given to macroeconomic policies, supply-side production cuts, and downstream demand conditions as risk factors [1]