来源：中国网 活动在鞍钢基石矿业有限公司党委副书记、工会主席周然热情洋溢的欢迎辞中正式拉开帷幕。他着重指 出，企业青年需在理论学习的过程中筑牢理想信念，同时满怀期待地希望高校青年能够成为连接学术智 慧与产业实际的先锋力量。 报告会现场，青年宣讲员围绕学习领会党的创新理论，锚定强国建设、民族复兴的宏伟目标，生动讲述 了《以物传信，以志践行》、《秦风铮骨——西安抗战的烽火记忆》、《当雷锋精神照亮地下深处—— 我们是掘进先锋》、《科技·创新·未来：我们一直在路上》、《传承西迁薪火，致敬彭康校长》等特色 故事。各位代表从不同领域和视角分享了将理论所学转化为实践所行的体会，展现了新时代青年与时代 同频、矢志报国的担当。 "薪火"联学活动是创新青年理论武装工作模式的一次积极探索，有效整合了高校优质宣讲资源，拓展了 理论传播的实践场域，增强了青年对党的创新理论的政治认同、思想认同和情感认同。活动结合西安交 通大学建校130周年暨西迁70周年的重要节点，进一步弘扬了"西迁精神"，激励广大青年坚定理想信 念，争做担当民族复兴大任的时代新人。 为扎实推进青年理论武装工作创新发展，切实加强校企青年交流互动，近日，以"光烛：理论之河 ...

格隆汇12月15日丨马钢股份(600808.SH)在投资者互动平台表示，当前，公司以聚焦主业、探索新增长 曲线为核心目标，暂无参与新股打新的投资计划。未来，公司将根据监管要求，结合实际，综合评估该 项业务实施的可行性。 ...

格隆汇12月15日丨马钢股份(600808.SH)在投资者互动平台表示，当前，公司以聚焦主业、探索新增长 曲线为核心目标，暂无参与新股打新的投资计划。未来，公司将根据监管要求，结合实际，综合评估该 项业务实施的可行性。 ...

| 600300 | 维维股 | 4.08 | 2.43 | 3.47 | 3.57 | 2.90 | | --- | --- | --- | --- | --- | --- | --- | | | 份 | | | | | | | 688565 | 力源科 | 4.44 | 2.66 | 10.29 | 10.58 | 2.86 | | | 技 | | | | | | | 003030 | 祖名股 | 2.94 | 1.18 | 19.75 | 20.30 | 2.81 | | | 份 | | | | | | | 603757 | 大元泵 | 4.39 | 3.79 | 37.75 | 38.74 | 2.62 | | | 业 | | | | | | | 601968 | 宝钢包 | 2.92 | 0.46 | 5.16 | 5.29 | 2.62 | | | 装 | | | | | | | 688592 | 司南导 | 5.21 | 4.71 | 42.33 | 43.43 | 2.59 | | | 航 | | | | | | | 600808 | 马钢股 | 2.93 | 0.57 | 3.77 | 3. ...

Core Insights - The steel industry is experiencing a dual decline in supply and demand, with structural optimization and marginal profit improvement. Supply side: total contraction and structural differentiation, with capital expenditure continuing to show weak growth. The steel industry's capital expenditure has been slowing for four consecutive years, entering negative growth in 2025 due to multiple factors including "anti-involution" policies, a downturn in the real estate sector, and limited infrastructure support [2][10] - The domestic crude steel consumption has decreased significantly, with a 6.4% year-on-year decline in demand from January to October 2025, amounting to 710 million tons. The demand in traditional steel usage areas remains weak, particularly in real estate and infrastructure [2][32] - Exports have become a crucial support for the steel industry, with steel exports reaching 97.74 million tons from January to October 2025, a 6.4% increase year-on-year. The total annual export volume is expected to exceed 110 million tons, effectively offsetting the pressure from declining domestic demand [2][48] Group 1: Marginal Improvement in the Steel Industry - The average steel price has continued to decline, with the comprehensive price index for ordinary steel dropping to 3,447 yuan/ton as of November 24, 2025, down approximately 200 yuan from the year's peak [10][60] - The profit margin of the steel industry has shown significant improvement, with the gross profit margin reaching 6.4% in Q3 2025, marking a recovery from the low levels seen since 2022 [13][15] - The proportion of loss-making enterprises in the steel industry has slightly decreased but remains high at 37.18%, indicating ongoing challenges within the industry [17] Group 2: PPI Turnaround Expectations - The Producer Price Index (PPI) for the steel industry is expected to turn positive by Q2 2026, driven by improvements in supply structure and demand dynamics [53][60] - Historical data shows that the steel industry plays a significant role in PPI fluctuations, with past PPI turnarounds in 2016 and 2021 coinciding with significant steel industry performance [54][60] - The steel industry accounts for approximately 5.9% of the PPI, making its price movements critical for overall industrial price trends [53][54] Group 3: Investment Recommendations - The report suggests focusing on high-efficiency, low-emission regional leading enterprises such as Hualing Steel, Shougang, and Shandong Steel, as well as companies with strong growth potential like Baosteel and Nanjing Steel [4][60] - The steel sector is viewed as having strong "anti-involution" attributes and significant profit recovery potential, making it a strategic investment opportunity for the medium to long term [4][60] - The report emphasizes the importance of monitoring the performance of small and medium-sized steel companies, particularly those with strong earnings growth and valuation appeal [4][60]

Core Viewpoint - The steel industry is expected to experience a reduction in production capacity and an improvement in quality, leading to stabilization in prices and profits in 2026 [1] Group 1: Supply - A new capacity replacement policy is set to be implemented, which is expected to continue reducing crude steel production in 2026 [6] - The capacity replacement policy will increase the reduction ratio in non-key areas to at least 1.5:1, enhancing long-term capacity constraints [14][18] - The overall crude steel production is anticipated to decrease year-on-year due to differentiated production restrictions and proactive production control by enterprises [6][28] Group 2: Demand - Investment stability and domestic demand expansion are expected to lead to a recovery in steel demand in 2026 [6] - The construction sector is projected to see a recovery in fixed asset investment, supported by policies aimed at stabilizing the real estate market [36] - Manufacturing sectors such as automotive, machinery, and home appliances are expected to maintain growth in steel demand due to supportive policies [6][57] Group 3: Costs - Steel cost pressures are expected to continue easing in 2026, with iron ore supply slightly increasing and demand stabilizing [6][61] - The global iron ore supply is projected to see a slight increase, with the four major mining companies expected to have a production growth rate of about 1.8% in 2026 [66] - The overall balance between iron ore supply and demand is expected to remain weak, with prices anticipated to fluctuate downward [6][61] Group 4: Prices and Profits - The reduction in production and improvement in quality are expected to help stabilize steel prices and profits in 2026 [6] - Demand for flat steel is expected to remain stronger than for long steel, with policies aimed at further tapping into consumption potential [6] - The anticipated decline in crude steel production, primarily driven by loss-making enterprises and policy-induced reductions, will contribute to a mild improvement in the steel supply-demand landscape [6] Group 5: Investment Recommendations - The report suggests focusing on leading companies in the ordinary steel sector and those involved in restructuring and integration, such as Baosteel, Hualing Steel, and Nanjing Steel [6] - In the special steel sector, high-performance steel products are encouraged, with companies like Jiuli Special Materials and Yongjin Co. expected to benefit from policy support [6][7]

格隆汇12月10日丨马钢股份(600808.SH)在投资者互动平台表示，公司的特钢产品主要应用在轨道交 通、能源装备、汽车及工程机械、轴承钢，以及涵盖工模具钢与海工用钢的高端制造领域。在航空航天 用特钢方面，公司当前尚未开展相关的技术储备和市场拓展。 ...

2020-2025年1-10月中国粗钢产量统计图 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：宝钢股份（600019）,鞍钢股份（000898）,马钢股份（600808）,沙钢股份（002075）,首钢股 份（000959）,包钢股份（600010）,太钢不锈（000825）,华菱钢铁（000932）,河钢股份（000709）,八 一钢铁（600581） 相关报告：智研咨询发布的《2026-2032年中国粗钢行业市场运行态势及发展趋势分析报告》 根据国家统计局数据显示：2025年10月中国粗钢产量为0.7亿吨，同比下降12.1%；2025年1-10月中国粗 钢累计产量为8.2亿吨，累计下降3.9%。 ...

（来源：中国宝武） 邂逅 · 3453 期 · 11759 篇 2025年宝武十大新闻（候选） （按时间顺序排列） 2025年，宝武时刻牢记习近平总书记的殷殷嘱托，锚定做强做优做大，全力以赴加快建设世界一流企业，为中国式现代化贡献宝武力量。为记录这意义非 凡的一年，全面展现企业在生产经营、科技创新、整合协同、国际化布局等方面取得的突出成就，我们开展"2025年宝武十大新闻"评选活动，邀请您投票 参与评选。 01 中国宝武捐赠资金1200万元驰援西藏定日县抗震救灾 1月7日，西藏日喀则市定日县发生6.8级地震，造成重大人员伤亡和财产损失。宝武坚决履行国资央企义不容辞的使命责任，捐赠资金1200万元，支援定 日县抗震救灾和灾后重建工作。 02 中国宝武太钢"手撕钢"创新研发团队荣获"央企楷模"称号 1月15日下午举行的2024年度"央企楷模"发布活动上，中国宝武太钢"手撕钢"创新研发团队荣获"央企楷模"称号。在过去十多年时间里，这群超级不锈钢 材料的闯关者牢记"钢铁报国"使命，在不锈钢精密材料领域创造了一个个奇迹。继2018年打破"中国永远造不出0.02毫米'手撕钢'"的魔咒后，又于2020年 将全球"手撕钢"厚 ...

证券日报网讯12月9日，马钢股份（600808）在互动平台回答投资者提问时表示，宝钢股份（600019） 向马钢有限增资的38.61亿元目前已全部到账，相关资金用于支持马钢有限压降负债、优化资本结构等 工作。本次增资后，马钢有限合并报表口径的资产负债率已控制在70%以内，相比增资前下降超过5个 百分点。马钢有限作为公司重要子公司，公司将持续提升其经营质量，稳步优化资产负债结构。马钢有 限的主要财务数据将按监管要求在马钢股份相关定期报告中予以披露。 ...