“头把交椅”易主，钢铁业迎“拐点”

Core Insights - The Chinese steel industry is facing a significant turning point by 2025, as traditional methods of expansion are no longer viable [1] - Current data indicates a decline in crude steel production and steel prices, reflecting a downward trend in both volume and price [1] - Despite the decline in production, there is an increase in the consumption of processed steel products, indicating a shift in product structure [1] Group 1: Industry Trends - In the first ten months of this year, China produced 818 million tons of crude steel, a year-on-year decrease of 3.9% [1] - The average steel price index for the same period was 93.50 points, down 9.91 points or 9.58% year-on-year [1] - The production of hot-rolled rebar, once the dominant steel product, has significantly decreased, while hot-rolled wide steel strips have become the leading product [1] Group 2: Demand and Structural Changes - The demand for steel in industrial manufacturing sectors such as automotive and shipbuilding remains strong, while the real estate market is gradually releasing demand for reasonable housing [2] - The current adjustment in the steel industry is the seventh of its kind, with a shift from merely increasing production to focusing on strengthening and differentiating products [2] - Steel companies are recognizing the need to transition towards high-quality development characterized by high-end, intelligent, green, and efficient practices [2] Group 3: Digitalization and Sustainability - Digitalization and green initiatives are becoming focal points for the steel industry, with significant steps taken towards standardization and carbon reduction [2] - The conference released three new product category rules for 2025 and 100 environmental product declarations, marking a critical advancement in the industry's sustainability efforts [2] - A total of 300 environmental product declarations have been published on the domestic steel industry's EPD platform, supporting global competitiveness [2]