股票研究 /[Table_Date] 2026.02.01 25Q4 板块预披业绩总亏约 119 亿 [Table_Industry] 钢铁 ——钢铁行业周度更新报告 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 李鹏飞(分析师) | 010-83939783 | lipengfei2@gtht.com | S0880519080003 | | 刘彦奇(分析师) | 021-23219391 | liuyanqi@gtht.com | S0880525040007 | | 魏雨迪(分析师) | 021-38674763 | weiyudi@gtht.com | S0880520010002 | | 王宏玉(分析师) | 021-38038343 | wanghongyu@gtht.com | S0880523060005 | 本报告导读： [Table_Report] 相关报告 钢铁《钢铁行业周报数据库 20260126》 2026.01.26 钢铁《2025 年粗钢产量下降 4.4%》2026.01.25 钢铁《铁矿库存 ...

2026年1月28日早盘，小金属板块盘中拉升，截至10:31，中证稀有金属主题指数上涨0.23%，成分股东 方钽业上涨8.41%，株冶集团上涨5.25%，中金岭南上涨4.36%，西部材料上涨4.35%，安宁股份上涨 3.89%。 消息方面，据中钨在线1月26日数据，以人民币吨价计，钨精矿价格逼近55万关口，仲钨酸铵价格站上 80万高位，钨粉价格突破130万大关。此外，2026年1月23日工业级碳酸锂价格冲高至16.80万元/吨，周 涨幅达9.80%；同期磷酸铁锂（动力型）价格较1月4日上涨4.43%，六氟磷酸锂虽小幅回落但仍处高 位。 长城证券测算指出，当前碳酸锂、稀土、锑等品种在下游应用中的静态成本占比已接近历史高位，但考 虑到顺价存在滞后性，且风电等敏感领域2026年仍有10%以上需求增速，顺价大概率落地，有望进一步 打开上游材料及权益端上涨空间。此外，1月21日雅保拍卖Wodgina所产5.49%锂辉石精矿成交价达 16,852元/干吨（镇江港自提），海外锂资源溢价明显；刚果（金）政府亦向美国提交国有矿产资产短 名单，地缘供给扰动持续强化战略金属稀缺属性。 稀有金属ETF（562800）跟踪中证稀有金属 ...

证券之星消息，1月27日小金属板块较上一交易日下跌1.61%，中国铀业领跌。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。小金属板块个股涨跌见下表： 从资金流向上来看，当日小金属板块主力资金净流出32.55亿元，游资资金净流入7.21亿元，散户资金净 流入25.34亿元。小金属板块个股资金流向见下表： | 代码 名称 | | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002149 | 西部材料 | 6.741Z | 11.79% | -4.69 Z | -8.19% | -2.06 Z | -3.60% | | 601958 | 金铝股份 | 433.28万 | 0.24% | -2003.57万 | -1.11% | 1570.28万 | 0.87% | | 688750 | 金天钛业 | 424.46万 | 1.46% | -40.62万 | -0.14% | -383.85万 ...

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Insights - Demand is expected to gradually stabilize, while supply-side constraints are anticipated to continue, leading to a potential recovery in the steel industry's fundamentals [3][4]. - The report highlights that despite a long period of micro-profitability in the industry, market-driven supply adjustments have begun, and if supply policies are implemented, the pace of supply contraction may accelerate [3][4]. Summary by Sections Steel Market Overview - The apparent consumption of the five major steel products was 8.2612 million tons, a decrease of 1.77% week-on-week but an increase of 4.33% year-on-year [6]. - The total steel inventory was 12.47 million tons, down 0.55% week-on-week, maintaining a low level [6]. - The average profit margin for rebar was 199.4 CNY/ton, down 15.2 CNY/ton from the previous week [6]. Production and Capacity Utilization - The production of five major steel products was 8.192 million tons, a slight increase of 0.08% week-on-week [6]. - The operating rate of blast furnaces in 247 steel mills was 78.84%, down 0.47 percentage points from the previous week [6][29]. - The capacity utilization rate for these mills was 85.48%, down 0.56 percentage points week-on-week [6][29]. Raw Material Prices - Iron ore spot prices remained unchanged, while futures prices decreased by 0.31% to 812 CNY/ton [48]. - The port inventory of iron ore rose to 165.55 million tons, an increase of 1.72% [52]. - The total shipment volume from major iron ore producers decreased, with Brazil's shipments down 7.37% and Australia's down 2.29% [53][61]. Recommendations - The report recommends focusing on companies with leading technology and product structures, such as Baosteel and Hesteel, as well as those with competitive advantages like CITIC Special Steel and Yongjin Materials [6].

Investment Rating - The report maintains an "Overweight" rating for the steel industry [6]. Core Insights - Demand is expected to gradually stabilize, while supply-side constraints are anticipated to continue, leading to a potential recovery in the steel industry's fundamentals [3][4]. - The report highlights that despite a long period of micro-profitability in the industry, market-driven supply adjustments have begun, which could accelerate the industry's upward progress if supply policies are implemented [3][4]. Summary by Sections Steel Market Overview - The apparent consumption of five major steel products was 8.2612 million tons, a decrease of 1.77% week-on-week but an increase of 4.33% year-on-year [6][20]. - Total steel inventory was 12.47 million tons, down 0.55% week-on-week, maintaining a low level [6][12]. - The average profit margin for rebar was 199.4 CNY/ton, down 15.2 CNY/ton from the previous week [6][41]. Production and Capacity Utilization - The operating rate of blast furnaces in 247 steel mills was 78.84%, a decrease of 0.47 percentage points from the previous week [6][29]. - The capacity utilization rate for these mills was 85.48%, down 0.56 percentage points week-on-week [6][29]. - The total steel production was 8.1921 million tons, a slight increase of 0.08% week-on-week [6][40]. Raw Materials - Iron ore inventory at ports reached 165.55 million tons, an increase of 1.72% week-on-week, marking a historical high [6][52]. - The spot price of iron ore remained unchanged, while futures prices decreased slightly [6][48]. - The total shipment volume of the four major iron ore producers decreased, with Brazil's shipments down 7.37% and Australia's down 2.29% [6][53][61]. Investment Recommendations - The report recommends focusing on companies with leading technology and product structures, such as Baosteel and Hualing Steel, as well as low-cost firms like Fangda Special Steel and New Steel [6]. - It also highlights the potential of upstream resource companies like Hebei Resources and Erdos, which may benefit from a recovery in demand [6].

Group 1 - The company, Anning Co., stated that it will disclose production information in accordance with legal and regulatory requirements [2] - The company's main products from its "annual production of 60,000 tons of energy-grade titanium (alloy) materials full industry chain project" include titanium ingots, titanium plates, and titanium coils [2]

Group 1 - The company held its 31st meeting of the sixth board of directors on January 16, 2026, to discuss various matters including adjustments to the 2025 restricted stock incentive plan [3][5][6] - The board approved the adjustment of the incentive plan, reducing the number of recipients from 33 to 32 and the total number of restricted shares from 722,600 to 710,400 [6][19][44] - The board also approved the granting of 710,400 restricted shares to 32 recipients at a price of 20.60 yuan per share, with the grant date set for January 16, 2026 [10][28][29] Group 2 - The company appointed Yang Junwei as the board secretary, with his term starting from the date of the board's approval until the end of the current board's term [54][56] - Yang Junwei holds the necessary qualifications and has no conflicts of interest with major shareholders or other board members [58]

每经AI快讯，安宁股份1月16日晚间发布公告称，经提名委员会资格审查，审议通过了《关于聘任董事 会秘书的议案》，同意聘任杨骏威先生为公司董事会秘书。 （记者 曾健辉） 每经头条（nbdtoutiao）——白银50天涨逾80%，疯狂程度远超黄金，历史上爆炒白银往往预示贵金属 牛市已到高潮，这次有何不同？ ...

注 3：在限制性股票授予前，激励对象离职或因个人原因自愿放弃获授权益的，由董事会对授予数量 做相应调整，将激励对象放弃的权益份额直接调减或在激励对象之间进行分配，但调整后任何一名激励对 象通过全部在有效期内的股权激励计划获授的本公司股票均不得超过公司股本总额的 1%。 四川安宁铁钛股份有限公司 2025 年限制性股票激励计划激励对象名单（授予日） | 序 | | | | 获授的限制 | 占本激励 | 占本激励计划 | | --- | --- | --- | --- | --- | --- | --- | | 号 | 姓名 | 国籍 | 职务 | 性股票数量 | 计划总量 | 公告时股本总 | | | | | | （万股） | 的比例 | 额的比例 | | 1 | 曾成华 | 中国 | 董事、总经理 | 9.71 | 13.67% | 0.02% | | 2 | 陈学渊 | 中国 | 董事、董事会秘书、财务负责人、 副总经理 | 8.74 | 12.30% | 0.02% | | 3 | 龚发祥 | 中国 | 副总经理 | 7.29 | 10.26% | 0.02% | | 4 | 李建科 | 中国 | 副总经 ...

证券代码：002978 证券简称：安宁股份 公告编号：2026-005 四川安宁铁钛股份有限公司 关于向 2025 年限制性股票激励计划激励对象 授予限制性股票的公告 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、误导性陈述或者重大遗漏。 重要内容提示： 4、激励对象人数：32 人 鉴于四川安宁铁钛股份有限公司（以下简称"公司"）《2025 年限制性股票 激励计划（草案）》（以下简称"本激励计划"或"《激励计划》"）规定的授予条 件已经成就，根据公司 2026 年第一次临时股东会对董事会的授权，公司于 2026 年 1 月 16 日召开第六届董事会第三十一次会议，审议通过了《关于向 2025 年限 制性股票激励计划激励对象授予限制性股票的议案》，公司董事会同意向 32 名激 励对象授予限制性股票 71.04 万股，授予日为 2026 年 1 月 16 日，授予价格为 20.60 元/股。现将有关事项公告如下： （一） 本激励计划简述 本激励计划已经公司 2026 年第一次临时股东会审议通过，主要内容如下： 1、激励工具：限制性股票。 1 1、限制性股票授予日：2026 年 1 月 ...