🔹 Market Overview
The macro landscape remains relatively calm, but potential systemic risks loom. Weak demand for Japanese and U.S. government bonds has driven yields higher, raising the risk of a synchronized downturn across equities, bonds, and currencies.

🔸 Commodity Breakdown

Iron Ore:

  • Undergoing a mild pullback
  • Daily chart shows a “two bullish candles + one flat” setup
  • 30-minute chart reveals a slight retreat after a minor rally

Rebar & Hot-Rolled Coil:

  • Experiencing range-bound consolidation
  • Daily candles have repeatedly formed doji patterns
  • Heavy long additions at yesterday’s low were met with intraday selloffs, pointing to a sideways trend

Coke & Coking Coal (Dual Coke):

  • Resumed decline after a brief two-day stabilization
  • Continued weakness is dragging on overall ferrous sentiment

🔸 Market Outlook

  • The strong near-term basis is helping limit further downside
  • However, persistent weakness in coking coal continues to cap any recovery efforts
  • The medium- to long-term downtrend remains unbroken, suggesting that caution is warranted

🔹 Strategy Suggestion:
Adopt a Defensive Trading Posture — Avoid aggressive long positions, and favor cautious short exposure during rallies. Wait for clear signs of trend reversal before re-entering the market aggressively.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.