The black series night session opened lower across the board, and the day session showed a divergence in trends. Double coal always remained in the low-end range. With the coke manufacturers' unsuccessful attempts to reduce prices, steel mills represented by Shagang have initiated the seventh round of price cuts. The futures market also hit a new low in five months. The rebar futures retreated significantly, dipping to 4643 yuan, breaking through the 20-day moving average. A slight rebound occurred at the end of the session, narrowing the closing loss.Galvanized Angle IronRecently, significantly affected by Tangshan's production restrictions, we remain a strong presence in the black sector, closing successfully with a positive trend. After a series of oversold declines, iron ore has embarked on a recovery journey, essentially reversing yesterday's losses today, closing with a rise of over 2%.

Galvanized angle steel and other profile materials are mainly experiencing a downward trend in the spot market prices. This morning, shipments were not favorable due to the influence of the market, but with the decline in prices and the late-day rebound in futures, some regions have seen slightly improved transactions. There is speculative demand in East China, while terminal demand in northern regions has not been fully released, resulting in a generally light trading atmosphere. Market sentiment is somewhat divided, with some traders maintaining a positive outlook, considering the adjustment a short-term trend, while others exhibit a stage-specific bearish sentiment and a relatively strong wait-and-see attitude.

Galvanized Angle IronAs the current market sees intense battles between bulls and bears, there's still a plethora of "information" circulating. The main trend continues to follow the production cut logic, experiencing a pullback after the positive news and a recovery after the发泄. This shows a clear contradiction.

Today, after adjustments, support is gradually becoming evident below, and a slight rebound is not out of the question. However, variety differentiation is expected to continue temporarily, and the demand side still needs time to validate and truly ignite the market's enthusiasm for upward movement. In the meantime, the market's wide-range tug-of-war will see fluctuations.