Today, rebar futures fluctuated and closed at 3079, up 0.88% from the previous trading day. Trading activity was moderate, with spot prices in some regions experiencing a slight increase. On the supply side, according to SMM statistics, the impact from blast furnace maintenance on pig iron production this week was 900,900 mt, an increase of 80,700 mt WoW. On the demand side, as the traditional peak season cycle has ended, the scope for demand growth is limited. Additionally, the arrival of the rainy season in south China has affected downstream construction progress, with further contraction in demand expected. Overall, as Sino-US tariffs have not yet fallen to the previous low levels, the market expects that although tariffs will decline, they will still remain at a relatively high level. The short-term improvement in sentiment cannot sustainably drive up steel prices. Therefore, it is expected that steel prices will fluctuate tomorrow.