Market Overview:

  • Weekend Market Recap: Over the weekend, the steel market remained generally stable with slight weakness, while overall sentiment stayed positive. Steel mills demonstrated strong price-support intentions amid limited market inventory.
  • Today’s Outlook: A mild rebound in spot prices is anticipated due to positive sentiment and controlled inventory levels.

Forecast:

  • Spot Market: Expected to operate slightly stronger, with gains likely in the range of 10-30 yuan.
  • Futures Market: Anticipated range-bound trading between 3250-3330, with 3270 as support and 3340 as resistance.

Strategy Recommendation:

Maintain a cautious approach and monitor key levels closely. Adjust positions based on market dynamics while keeping risk management a priority.

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