Black futures rebounded in an all-round way! Is the market about to change?

Today, the overall steel market stopped falling and rebounded, and market sentiment continued to heat up. In terms of varieties, threaded and hot coil rebounded faster, with an overall increase of 20-30 yuan.
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The market rebounded, and market sentiment played a key role. After being suppressed by the market for a long time, I finally got a certain release. So why the sentiment has improved again? This is mainly because some small “bright spots” appeared in some aspects of the market, which were caught and magnified by the market and turned into certain positives.
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The first was a rebound in stocks, with most commodities rising. Among them, energy and black stocks rebounded sharply. Iron ore and cotton rose more than 5%, soda ash, coking coal, urea, and hot coil rose more than 3%, and coke, rebar, glass, stainless steel, and plastic rose more than 2%. This shows that it is not a matter of individuality, but a commonality of rising.
Secondly, certain positive changes have taken place in the industry.
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From the current point of view, steel prices have made a good start in June and have rebounded to a certain extent, but they still cannot be too optimistic. There have been no fundamental changes in the three major logics of cost, supply and demand, and macroeconomics, and policy stimulus cannot be expected too much. The current rebound in the market, in addition to the rhythm and technical needs to be repaired upwards, sentiment also played a greater role. After the rebound, it is still necessary to observe the strength of spot shipments and the transformation of various contradictions. In the short term, shocks will dominate, and there is still room for local prices to rebound slightly, but the range is still limited.