全市场唯一钢铁ETF（515210）涨超1.3%，钢铁需求有望企稳

Group 1 - The core viewpoint is that steel demand is expected to stabilize while supply is anticipated to continue contracting, with a notable reduction in the negative impact of real estate on steel demand [1] - The demand for steel from the real estate sector is decreasing, but there is expected stable growth in steel demand from infrastructure and manufacturing sectors [1] - Steel exports maintained a year-on-year increase from January to August, indicating a positive trend in the export market [1] Group 2 - Over 40% of steel companies are currently operating at a loss, suggesting that market-driven supply adjustments are beginning to occur [1] - The recently released "Steel Industry Stabilization and Growth Work Plan (2025-2026)" emphasizes continued production reduction policies to support advanced enterprises and phase out inefficient capacities [1] - The steel ETF (515210) tracks the CSI Steel Index (930606), which reflects the overall performance of listed companies in the steel industry, characterized by strong cyclicality and a close relationship with market dynamics and economic cycles [1]