Galaxy Securities Research Reports suggest that the Steel Industry has shown weak performance in recent years, and individual stocks have fallen to relatively low valuations. With the improvement in the industry's supply-demand structure, the profitability and valuations of leading steel companies are expected to recover. From the supply side, industrial policies are continuously effective, showing a trend of shrinking steel production capacity, and the industry's concentration is expected to continue to rise. On the demand side, new policies are accelerating investments in downstream manufacturing, with demand supported by steel-consuming sectors like Ships. The industry is expected to benefit from the upgrading of manufacturing. It is recommended to pay attention to leading companies in the General Steel Sector that are expected to see marginal demand improvement due to positive policy expectations, as well as leading companies in the Special Steel Sector with favorable fundamentals.