According to the Zhitong Finance APP, Steel stocks fell broadly today. As of the time of writing, Angang Steel (00347) dropped by 5.41%, reported at 1.4 Hong Kong dollars; CHONGQING IRON (01053) dropped by 4.44%, reported at 0.86 Hong Kong dollars; MAANSHAN IRON (00323) dropped by 1.84%, reported at 1.6 Hong Kong dollars.

In terms of news, according to China Securities Journal, Steel Industry "winter storage" often begins in November of the previous year and continues until February of the following year. Recently, it was learned that the "winter storage" period for 2024-2025 is more than halfway through, and the overall situation of "winter storage" is below expectations, with most regions being relatively flat. Regarding the demand situation in the Steel Industry for 2025, industry insiders expect that downstream demand may show differentiation. Among them, demand for construction Steel may continue to decline, but the rate of decline has narrowed; industrial Steel demand remains resilient, with demand for special Steel relatively strong.

Xiangcai Securities pointed out that as the off-season deepens, the demand decline will continue in the short term, and the supply side is similarly affected by the scheduled maintenance of blast furnaces at the end of the year, resulting in a weak supply and demand situation in the industry. Attention should still be paid to the winter storage situation of Steel plants; before there is an improvement in winter storage willingness, the weak trend of Steel prices is difficult to change. Bohai Securities stated that under the influence of the Spring Festival, as downstream enterprises successively go on holiday, it is expected that supply and demand in the industry will continue to decline, and under the pressure of inventory accumulation, short-term Steel prices may fluctuate and run weakly.