🔹 Market Overview

The influence of recent macroeconomic news has weakened, and the market is now primarily trading based on the current state of industry fundamentals.

Spot market conditions reflect weak demand and accelerating inventory accumulation, with the broader commodities market showing a “more down days than up” pattern. The Wenhua Commodity Index also indicates signs of breaking lower, highlighting persistent downside pressure.

🔹 Technical & Fundamental Outlook

Considering that costs provide some support, the market is expected to show stabilization with sideways oscillation in the short term.

🔸 Trading Strategy

Despite temporary consolidation, the downward potential for steel prices remains. The recommended approach continues to be “sell on rallies, short the rebounds”, maintaining a cautious stance while monitoring market reactions.