库存呈连续下降态势 胶合板期货呈现窄幅偏强震荡

Group 1 - The domestic futures market shows a significant increase, with plywood futures experiencing a slight upward trend, currently priced at 146.75 yuan/ton, up by 0.10% [1] - As of the week ending November 22, the U.S. steel capacity utilization rate stands at 76.9% according to the American Iron and Steel Institute (AISI) [1] - The World Steel Association projects that global crude steel production will reach 1.433 billion tons by October 2025, a year-on-year decrease of 5.9%, with production from January to October 2025 at 1.5176 billion tons, down 2.1% year-on-year [1] Group 2 - The China Iron and Steel Association reports that as of mid-November, social inventory of five major steel varieties in 21 cities is 8.71 million tons, a decrease of 220,000 tons or 2.5% month-on-month, but an increase of 2.12 million tons or 32.2% compared to the beginning of the year, and up 1.87 million tons or 27.3% year-on-year [1] - As of November 24, the total urban inventory is 8.8696 million tons, down by 231,100 tons or 2.54% from the previous week, with construction steel inventory totaling 4.5574 million tons, a decrease of 172,500 tons or 3.65% week-on-week [1]