Group 1 - The core viewpoint of the article indicates that the reallocation of macro policies is expected to enhance the demand for rebar in August, leading to a potential upward trend in prices [1] - The demand side is supported by accelerated implementation of macro policies and faster issuance of local special bonds, which boosts infrastructure investment and rebar demand [1] - The real estate sector shows signs of stabilization, with a narrowing decline in new construction area, reducing the negative impact on rebar demand [1] Group 2 - On the supply side, improved profits for both long and short process steel mills are expected to increase production willingness, leading to a slight recovery in rebar output [1] - However, due to "anti-involution" policies and calls for industry self-discipline, production levels are anticipated to remain stable and operate at low levels [1] - Inventory levels are currently low, with downstream demand in the off-season, but the supply is also at a low level, resulting in a basic balance between supply and demand and a gradual reduction in inventory [1]

Core Viewpoint - The reallocation of macro policies is expected to enhance the demand for rebar in August, leading to a potential upward trend in prices due to improved demand expectations and controlled supply pressures [1] Demand Side - The acceleration of macro policies and the rapid issuance of local special bonds are driving high growth in infrastructure investment, which in turn boosts rebar demand [1] - The decline in the real estate sector is slowing down, with a narrowing drop in new construction area, reducing the negative impact on rebar demand significantly [1] Supply Side - Profitability improvements in both long and short process steel mills are increasing production willingness, leading to a slight recovery in rebar output [1] - However, the "anti-involution" policy is strengthening, and there are increasing calls for industry self-discipline in production control, which is expected to keep output stable and at low levels [1] Inventory Side - Downstream demand is currently weak due to the off-season, but supply is also at low levels, resulting in a basic balance between supply and demand [1] - Inventory is gradually decreasing, and the low inventory effect is becoming significant [1]