20份业绩预告折射钢铁行业回暖迹象 多家公司业绩改善明显

Industry Overview - The steel industry, which has been sluggish for years, may be emerging from its low point, with 20 listed steel companies in the A-share market providing optimistic mid-year performance forecasts for 2025 [1] - Several companies, including Benxi Steel and Ansteel, reported a better outlook for the steel industry compared to the same period last year, indicating a weak balance between supply and demand in the market [1] Performance Forecasts - Benxi Steel expects a net loss of 1.405 billion yuan for the first half of the year, a reduction in loss by 9.4% year-on-year, while Ansteel anticipates a net loss of 1.144 billion yuan, a significant reduction of approximately 57.46% compared to the previous year [2] - Overall, 17 out of the 20 companies that released forecasts are expected to show varying degrees of growth or improvement in their performance [2] Profitability Trends - According to the China Iron and Steel Association, key steel enterprises achieved a total profit of 40.9 billion yuan from January to May, a year-on-year increase of 56.96%, with an average profit margin of 1.93%, up 0.80 percentage points year-on-year [2] - The reduction in upstream raw material prices and increased demand from downstream sectors such as automotive and manufacturing, driven by policies promoting stable growth and consumption, have positively impacted steel companies' profitability [2] Challenges Faced by Some Companies - A few companies, such as Lingyuan Steel and Fushun Special Steel, are experiencing worsened losses or turning to losses due to various factors, including increased fixed costs and declining product orders and prices [3] - Lingyuan Steel expects a net loss of approximately 577 million yuan, while Fushun Special Steel anticipates a loss between 260 million and 300 million yuan, citing reasons such as increased tax expenses and rising quality control costs [3] Future Outlook - The overall recovery in profitability presents an opportunity for the steel industry to improve processes and adjust product structures, with a focus on enhancing product quality and phasing out outdated production capacity [3] - The ongoing "anti-involution" trend in the industry is expected to further improve the supply-demand dynamics and accelerate the recovery of industry prosperity [3]