The main futures price fluctuated and stabilized, recording a daily increase of 0.19%, with reduced trading volume and increased positions. At present, the supply of rebar has contracted, but the positive effect under high inventory is not strong. Correspondingly, the demand performance remains weak. With both supply and demand being weak, the fundamentals have not improved substantially. Steel prices are likely to be under pressure. Pay attention to the recovery of demand after the Spring Festival.

Hot-rolled coil: The main futures price fluctuated and rose, recording a daily increase of 0.37%, with volume shrinking and position increasing. At present, the production of steel plate mills during the holiday has stabilized, with relatively high supply pressure. Meanwhile, the demand performance is weak, and the fundamentals are operating weakly. Inventories have increased significantly, and prices continue to be under pressure. Pay attention to the demand performance after the holiday.

Iron ore: The main futures price strengthened somewhat, recording a daily increase of 0.96%, with expanded trading volume. At present, the overseas commodity market atmosphere during the holiday is relatively warm, providing support for ore prices. However, the supply of ore has returned to a high level, while demand is expected to weaken. The fundamental contradictions of ore are accumulating. Under the game of bullish and bearish factors, it is expected that ore prices will fluctuate at a high level. Pay attention to the performance of steel.

(Source: Baocheng Futures)

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