🔹 Overall Viewpoint

The market has returned to the 3250-3350 range, with key resistance levels at 3280, 3300, 3330, and 3350.
This week, the strength of demand recovery will determine the extent of any rebound. Keep an eye on Thursday’s Steel Union data release, which will provide more clarity for future decisions.

Yesterday’s roundtable with private enterprises had little impact on the black metal sector. It was not a significant market mover.

As the Two Sessions have yet to officially begin, and demand recovery is still uncertain, the chances of a major drop in the black metals sector this February remain low. After the Two Sessions in March, the true market dynamics will become clear, and we can adjust our strategy accordingly.

🔹 Operational Strategy

For now, until the Two Sessions, the focus should be on defense. Light-position trades are recommended, with short positions favored at higher levels. The strategy should remain cautious until we have more clarity post-Two Sessions.

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