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Data as of: 2026-10-12 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)

Rebar (RB2701) In-depth Analysis | Slightly Bullish: Seat Net Longs Surge, Above 3095 Target 3123 | 2026-10-13

Directional conclusion: Slightly bullish. Rebar RB2701 at [10-12 settlement] reported 3095 yuan, +0.32% intraday versus previous settlement, main-force open interest 1680941 lots (+7483 lots), notional open interest 51.94 billion yuan, daily change +231 million yuan, showing a rising-open-interest, rising-price pattern with active longs; top-20 seats net long 50000 lots, single-day +18867 lots, the strongest capital signal recently. Technically [10-12 settlement] sits at the 24.4th percentile of the 20-day channel 3060–3183, pivot P at 3091.67, settlement price has moved above P, with R1 at 3103.33 above; ATR14 at 28.5 (0.92%), RV20 at 10.2%, volatility mild. On the fundamentals side, inventory, production and profit data are not listed; this round is driven mainly by capital flows and macro expectations: 10-13 M2 and new loans, 10-14 CPI and PPI will be released in concentration, PPI expected at 4.4% versus prior 3.8%, which if realized will strengthen industrial-goods pricing. Direction invalidation conditions: daily close below 3060 (20-day low), or 10-14 PPI below 3.8% and M2 below 7.3%.