Group 1: Report's Industry Investment Rating - No information provided Group 2: Report's Core View - The steel price is expected to continue the state of oscillating to find the bottom, and attention should be paid to the demand performance. The weak reality pattern remains unchanged, the supply of rebar is at a low level, the demand improvement is doubtful in sustainability, and the cost has support [1][2] Group 3: Summary According to Relevant Catalogs Variety View Reference - For rebar 2601, the short - term view is oscillating weakly, the medium - term view is oscillating, and the intraday view is also oscillating weakly. It is recommended to pay attention to the pressure at the MA5 line. The core logic is that the weak reality pattern remains unchanged, and the steel price is oscillating to find the bottom [1] Market Driving Logic - The supply - demand pattern of rebar has changed. The output has been continuously decreasing, but the reduction momentum in the peak season is not strong and the overall decline is small. The inventory is relatively high, so the positive effect is limited. After the festival, the demand has improved as expected, but the high - frequency trading volume remains at a low level. Both supply and demand are at the low levels in the same period in recent years, and the peak - season performance is insufficient. The demand improvement is doubtful in sustainability, the inventory removal pressure is large, and the fundamentals have not been substantially improved. The relative positive factor is the cost support [2]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The steel price of rebar 2601 is expected to fluctuate in the short - term, medium - term, and show a weak - side fluctuation intraday. It is recommended to pay attention to the support at the MA5 line. The core logic is the game between expectations and reality, and the steel price will fluctuate [2]. - Under the situation of weak supply and demand, the fundamentals of rebar have not improved, and industrial contradictions continue to accumulate. The steel price is still under pressure. With the positive factors of cost increase and production limitation disturbances, the steel price is expected to continue the fluctuating trend, and the demand performance should be monitored [3]. Group 3: Summary by Related Content Variety Viewpoint Reference - For rebar 2601, the short - term, medium - term trend is "fluctuation", and the intraday trend is "weak - side fluctuation". The reference suggestion is to pay attention to the support at the MA5 line, with the core logic being the game between expectations and reality and the steel price's fluctuating operation [2]. Market Driving Logic - The fundamentals of rebar are weakly stable. Although the production has decreased, it's hard to sustain during the peak season, and inventory is increasing, so the supply pressure relief is limited. Demand remains weak, high - frequency indicators are at a low level, and the downstream industry has not improved, with limited marginal improvement in demand. With the game of long and short factors, the steel price is expected to continue fluctuating, and attention should be paid to the demand performance [3].