ETF日报：钢铁库存已经达到低位，需求侧回暖或带动主动补库行情，关注钢铁ETF

Market Overview - The A-share market experienced overall fluctuations today, with the Shanghai Composite Index down 0.12% at 3635.13 points, and the Shenzhen Component Index down 0.26% [1] - The total trading volume in the Shanghai and Shenzhen markets was 17102.27 billion yuan, a decrease of 1162 billion yuan compared to the previous day [1] - The market sentiment is currently neutral to weak, with over 2800 stocks declining [1] Sector Performance - The "anti-involution" and "Yajiang" themes showed strong performance today, with sectors such as non-ferrous metals, building materials, infrastructure, steel, and photovoltaics leading the gains [1] - Conversely, the technology sector faced collective weakness, with software, computing, and chip industries leading the declines [1][6] Steel Industry Insights - Steel companies have shown a continuous recovery in profitability in the first half of the year, despite weak downstream demand leading to a decline in major steel prices [4] - The profitability rate of steel mills has stabilized around 60% since bottoming out in September last year [4] - The demand for steel is expected to be supported by a recovery in the real estate sector, with new construction and completion areas showing signs of improvement [7] Policy and Future Outlook - The "14th Five-Year Plan" is nearing its conclusion, while the "15th Five-Year Plan" is set to begin, with a focus on innovation-driven development and the cultivation of globally competitive emerging industries [8] - The artificial intelligence sector is expected to see significant growth, particularly in hardware and software applications, with a recommendation to focus on chip-related ETFs [8][9] Investment Opportunities - The steel ETF (515210) has shown a 1.14% increase today and a 2.74% increase over the past five days, indicating strong market interest [2] - The semiconductor sector remains in a high prosperity phase, with significant growth in sales and revenue for related companies, suggesting continued investment opportunities in chip ETFs (512760) and semiconductor equipment ETFs (159516) [8][9]