钢材：钢厂库存累库不多 钢价有支撑

Core Viewpoint - The steel market shows signs of price increases driven by rising costs and demand recovery, with specific price movements noted in various steel products [1][2][4]. Supply - Iron element production from January to July increased by 18 million tons, a growth rate of 3.1%, with production in July remaining stable compared to June [3] - The production of rebar rose by 100,000 tons to 2.21 million tons, indicating a notable recovery in rebar production [3] - Hot-rolled steel production decreased by 79,000 tons to 3.14 million tons, showing a significant decline [3] Demand - From January to July, the apparent demand for the five major steel products remained nearly flat, with a slight decrease of 0.2%, while production fell by 1.3% [4] - Domestic demand decreased year-on-year, but external demand increased significantly, with direct and indirect steel exports rising [4] - The apparent demand for rebar increased by 74,000 tons to 2.108 million tons, while hot-rolled steel demand decreased by 138,000 tons to 3.06 million tons [4] Inventory - Inventory levels have increased for two consecutive weeks, primarily due to rising trader inventories, while steel mill inventory growth was not significant [5] - The inventory of the five major steel products rose by 235,000 tons to 13.754 million tons, with rebar inventory increasing by 103,900 tons to 5.567 million tons [5] - The supply-demand balance for rebar has improved, while the supply-demand situation for plate products remains weak [5]