Minsheng Securities research report indicates that steel demand is weakening and prices continue to fall. This week, overall steel production and demand have both declined significantly. In terms of inventory, hot-rolled and medium-thick plates are accumulating inventory, while other steel products have seen inventory levels decline. The five major steel products remain in a destocking state. The current characteristics of the off-season in building materials demand are more obvious. The demand for plate was weak this week, leading to a continued decline in steel prices. Additionally, due to a significant drop in pig iron production, raw material prices are also under pressure. With the approach of the peak season demand, it is expected that building materials demand will gradually improve. Follow-up attention should be paid to the improvement of steel enterprise profits. Recommendations: 1) General steel sector: Baoshan Iron & Steel, Hunan Valin Steel, Nanjing Iron & Steel; 2) Special steel sector: Citic Pacific Special Steel Group, Yongjin Technology Group, Xianglu New Materials; 3) Pipe target: Zhejiang Jiuli Hi-Tech Metals, Jiangsu Wujin Stainless Steel Pipe Group, Tianjin You Fa Steel Pipe Group Stock. Suggest focusing on: Fushun Special Steel, a high-temperature alloy target.
民生证券：钢铁需求转弱 价格持续回调
Minsheng Securities: Steel demand weakens, prices continue to fall. This week, overall steel production and demand have dropped significantly. In terms of inventory, hot-rolled and medium-thick plates are accumulating inventory, while the rest of the stee
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