🔹 Market Analysis:

1️⃣ Crude Steel Production Cuts – Uncertainty Lingers:

  • Continuous policy chatter around crude steel output reduction is fueling market volatility.
  • The NDRC reiterated plans to introduce sector-specific restructuring measures, increasing speculation over potential supply adjustments.

2️⃣ Steel Inventory Data – Slightly Bullish:

  • Seasonal destocking has begun earlier than last year, signaling a shift in demand-supply dynamics.
  • However, the sustainability of demand remains a key question mark.

🔹 Technical Outlook:

  • Intensified long-short battles with neither side gaining clear dominance.
  • Short-term rangebound movement expected due to a lack of strong directional drivers.
  • Projected intraday range:
    • Rebar: 3250–3300
    • Iron Ore: 765–785

🔹 Strategic Takeaway:

Monitor inventory and demand trends closely to gauge the next major move.

Stay cautious amid policy uncertainty—watch for any confirmed announcements on output controls.

Short-term trading within range remains viable, but a clear breakout still lacks conviction.

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