| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 6653009 | 抚顺特钢 | 5.49 | 2.43% | 71.90万 | | 3.93亿 | | 000825 | 太钢不锈 | 5.08 | 2.01% | 157.63万 | | 7.93亿 | | 002478 | 常宝股份 | 8.57 | 1.90% | 54.42万 | | 4.68亿 | | 300881 | 盛德彦泰 | 34.15 | 1.76% | 1.48万 | | 5022.66万 | | 600117 | 西宁特钢 | 2.81 | 1.44% | 14.12万 | | 3929.75万 | | 002318 | 久立特材 | 27.40 | 1.44% | 17.28万 | | 4.73亿 | | 002443 | 金洲营道 | 8.63 | 1.41% | 15.81万 | | 1.36亿 | | 600507 | 方大特钢 | 5.82 | 1.22% | 15.83万 | | 9162.42 ...

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]

从资金流向上来看，当日特钢板块主力资金净流入5311.24万元，游资资金净流入5928.62万元，散户资 金净流出1.12亿元。特钢板块个股资金流向见下表： 证券之星消息，12月11日特钢板块较上一交易日下跌0.55%，沙钢股份领跌。当日上证指数报收于 3873.32，下跌0.7%。深证成指报收于13147.39，下跌1.27%。特钢板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 ...

每经AI快讯，沙钢股份（SZ 002075，收盘价：5.91元）12月10日晚间发布公告称，公司第八届第二十 一次董事会会议于2025年12月10日以通讯表决方式召开。会议审议了《关于召开2025年第三次临时股东 会的议案》等文件。 截至发稿，沙钢股份市值为130亿元。 每经头条（nbdtoutiao）——最新1520元，飞天茅台批价两年跌了43%，经销商躺赢神话破灭，当潮水 退去谁在裸泳？ 2025年1至6月份，沙钢股份的营业收入构成为：钢铁行业占比93.25%，其他业务占比5.21%，齿轮行业 占比1.35%，服务行业占比0.18%。 （记者 曾健辉） ...

江苏沙钢股份有限公司 2025 年第三次独立董事专门会议审查意见 江苏沙钢股份有限公司 1 江苏沙钢股份有限公司 2025 年第三次独立董事专门会议审查意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司独 立董事管理办法》《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》等法律、法规和规范性文件及《公司章程》《独立董事制度》 《独立董事专门会议工作制度》的规定和要求，江苏沙钢股份有限公司（以下 简称"公司"）独立董事于2025年12月9日以通讯方式召开了第八届董事会2025 年第三次独立董事专门会议。 本次会议应出席独立董事3人，实际出席独立董事3人，独立董事共同推举 黄雄先生为独立董事专门会议的召集人和主持人。公司董事会秘书列席了本次 会议。本次会议的召集、召开和表决程序符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 独立董事基于独立判断的立场，秉承实事求是、客观公正的原则，在认真 阅读和审核相关材料的基础上，对公司第八届董事会第二十一次会议所审议案 的相关情况进行了核查，并发表审查意见如下： 一、关于2026年度日常关联交易预计的审查意见 公司及 ...

证券代码：002075 证券简称：沙钢股份 公告编号：临2025-036 江苏沙钢股份有限公司 关于2026年度日常关联交易预计的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、日常关联交易基本情况 （一）日常关联交易概述 根据江苏沙钢股份有限公司（以下简称"公司"）及控股子公司江苏沙钢集 团淮钢特钢股份有限公司、东北特钢集团山东鹰轮机械有限公司日常生产经营需 要，为充分利用控股股东江苏沙钢集团有限公司（以下简称"沙钢集团"）及其 关联方的资源优势，2026 年度公司预计向沙钢集团及其关联方采购原材料及产 成品、销售原材料及产成品、提供劳务、接受劳务等事项，预计总金额不超过 47.77 亿元，其中：关联采购预计总额为 24.85 亿元；关联销售预计总额为 22.92 亿元。 2025 年 12 月 10 日，公司召开第八届董事会第二十一次会议，审议通过了 《关于 2026 年度日常关联交易预计的议案》，关联董事季永新先生、钱正先生 回避了表决。该议案尚需提交公司 2025 年第三次临时股东会审议，关联股东沙 钢集团需回避表决。 （二）预计日常关联交易 ...

证券代码：002075 证券简称：沙钢股份 公告编号：临 2025-037 江苏沙钢股份有限公司 关于召开 2025 年第三次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或 重大遗漏。 一、召开会议的基本情况 1、股东会届次：2025 年第三次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所股票上市规则》《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 26 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 26 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2025 年 12 月 26 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 1 ...

4、本次会议由公司董事长季永新先生主持。公司全体高级管理人员列席了 本次会议。 第八届董事会第二十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1、江苏沙钢股份有限公司（以下简称"公司"）第八届董事会第二十一次 会议通知于2025年12月6日以书面和电子邮件等方式向全体董事发出。 2、本次董事会会议于2025年12月10日以通讯表决方式召开。 3、本次董事会会议应出席董事7名，实际出席董事7名。 证券代码：002075 证券简称：沙钢股份 公告编号：临2025-035 江苏沙钢股份有限公司 5、本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文 件和《公司章程》的规定。 二、董事会会议审议情况 经与会董事认真审议，会议以记名投票表决的方式进行了审议表决，形成了 以下决议： 1、审议通过《关于2026年度日常关联交易预计的议案》。 公司及控股子公司根据日常生产经营需要，2026年度与控股股东及其关联方 预计日常关联交易总金额不超过47.77亿元。 表决情况：5票同意、0票反对、0票弃权，因公司董事长季永新先 ...

Core Viewpoint - The report highlights a significant decline in China's crude steel production, indicating a downward trend in the industry for the year 2025, with a notable year-on-year decrease of 12.1% in October alone [1]. Industry Overview - As of October 2025, China's crude steel production reached 0.7 million tons, reflecting a 12.1% year-on-year decline [1]. - From January to October 2025, the cumulative crude steel production in China was 8.2 million tons, which represents a 3.9% decrease compared to the same period in the previous year [1]. Companies Mentioned - The report references several listed companies in the steel industry, including Baosteel Co., Ltd. (600019), Ansteel Co., Ltd. (000898), Maanshan Iron & Steel Co., Ltd. (600808), Shagang Group (002075), Shougang Group (000959), Baotou Steel (600010), Taiyuan Iron & Steel (000825), Hualing Steel (000932), Hebei Iron & Steel (000709), and Bayi Steel (600581) [1]. Research Report - The insights are derived from a report by Zhiyan Consulting titled "Analysis of the Market Operation Status and Development Trends of China's Crude Steel Industry from 2026 to 2032," which provides a comprehensive analysis of the industry's future [1].

Market Overview - The Shanghai Composite Index fell by 0.37% on December 9, with five industries experiencing gains, led by the comprehensive and communication sectors, which rose by 3.45% and 2.23% respectively [1] - The metal and steel industries faced the largest declines, with losses of 3.03% and 2.47% respectively, placing the steel industry second in terms of decline [1] Capital Flow - The main capital outflow from the two markets totaled 52.992 billion yuan, with only three industries seeing net inflows: retail trade (1.143 billion yuan), comprehensive (432 million yuan), and banking (70.578 million yuan) [1] - The non-ferrous metals industry had the highest net outflow, totaling 7.937 billion yuan, followed by the computer industry with a net outflow of 5.616 billion yuan [1] Steel Industry Performance - The steel industry saw a decline of 2.47%, with a total net outflow of 704 million yuan, and only one of the 44 stocks in this sector rose in value [2] - Among the steel stocks, Baosteel had the highest net inflow of 25.986 million yuan, followed by Shagang and Jiugang Hongxing with inflows of 8.877 million yuan and 5.087 million yuan respectively [2] - Six steel stocks experienced net outflows exceeding 30 million yuan, with Baogang, Hesteel, and Nanjing Steel leading the outflows at 190 million yuan, 64.883 million yuan, and 49.797 million yuan respectively [2] Steel Stock Flow Data - The following table summarizes the performance of key steel stocks: - Baogang: -1.63%, -189.6372 million yuan - Hesteel: -3.45%, -64.8827 million yuan - Nanjing Steel: -4.61%, -49.797 million yuan - Other notable declines include Fangda Carbon (-2.79%, -39.6426 million yuan) and Vanadium Titanium (-3.55%, -38.6316 million yuan) [2][3]