中钢协：国内需求下降趋势未改、结构调整的“阵痛”仍在

Core Viewpoint - The domestic steel market in China is experiencing a downward trend in demand, with ongoing structural adjustments causing challenges for the industry. Despite some production control measures, the overall market remains oversupplied, leading to declining steel prices and a need for enhanced industry self-discipline [1][2]. Group 1: Demand Trends - In the first quarter, real estate investment and new construction area in China fell by 10.3% and 18.7% year-on-year, respectively, maintaining double-digit declines [1]. - The demand for steel in manufacturing and infrastructure construction saw slight growth, but the production of rebar decreased by 2.9%, indicating that the increase in demand was less than the decrease in other areas [1]. - The shipbuilding sector faced challenges, with completed shipbuilding volume down by 13.0% and new orders down by 16.5% year-on-year, impacting the demand for steel used in shipbuilding [1]. Group 2: Supply Trends - In the first quarter, production from 121 electric arc furnace enterprises increased by 2.0%, while 137 electric arc furnace enterprises reported a 16% increase in production [2]. - Rebar production grew by 5.6% and wire rod production increased by 8.5% in March, both exceeding the 4.6% year-on-year increase in crude steel production [2]. - Steel prices in Shanghai dropped from 3340 RMB/ton on March 13 to 3160 RMB/ton by April 22, a decline of 5.4%, reflecting the imbalance between supply and demand [2].