钢铁ETF（515210）涨超3.1%，钢铁行业盈利改善预期升温

Core Viewpoint - The steel industry is experiencing an improvement in profitability expectations, with the steel ETF (515210) rising over 3.1% as the industry's profit margin increases [1] Group 1: Industry Performance - The steel industry's profit margin has increased by 0.43% to 60.17% [1] - The simulated gross profit per ton for rebar and hot-rolled coil is 198.6 CNY/ton and 130.6 CNY/ton, respectively [1] - Iron ore inventory has increased by 193,200 tons to 137,852,100 tons, indicating a potential shift towards a more relaxed supply cycle for iron ore [1] Group 2: Demand and Supply Dynamics - Demand from infrastructure and manufacturing sectors is showing steady growth, with steel exports maintaining year-on-year growth from January to June [1] - The market is beginning to clear, suggesting that the industry is gradually emerging from its bottom phase [1] - If supply policies are implemented, the speed of supply contraction in the industry may accelerate, leading to quicker upward progress [1] Group 3: Long-term Trends - The industry is expected to see an increase in concentration and a shift towards high-quality development [1] - Stringent environmental regulations, ultra-low emission transformations, and carbon neutrality initiatives will highlight the advantages of leading companies in the sector [1] Group 4: Investment Instruments - The steel ETF (515210) tracks the CSI Steel Index (930606), which includes representative listed companies in the steel industry, covering key segments such as iron ore mining and steel manufacturing [1]