Zheng Quan Shi Bao Wang·2025-12-15 03:49Core Viewpoint - The steel sector is experiencing a rally, with significant gains in stocks such as Fushun Special Steel and Taiyuan Iron & Steel, despite facing supply-demand challenges and declining overall industry profits [1] Group 1: Industry Overview - The steel industry is currently facing prominent supply-demand contradictions, leading to an overall decline in industry profits [1] - However, with the implementation of various "stabilizing growth" policies, steel demand is expected to remain stable or slightly increase, supported by a bottoming out in real estate, steady infrastructure investment, ongoing manufacturing development, and high steel export levels [1] - The tightening of steel supply under the expectations of supply-side control policies and the continuous increase in industry concentration are likely to maintain a stable overall supply-demand situation in the steel sector [1] Group 2: Future Outlook - The macro trend of high-quality economic development and new productive forces, particularly benefiting from the energy cycle, domestic substitution, and high-end equipment manufacturing, is expected to favor high-end steel products with high barriers and added value [1] - The future industrial landscape of the steel sector is anticipated to improve steadily, with some companies currently undervalued, presenting structural investment opportunities [1] - Companies with high gross profit margins, strong cost control, and scale effects, particularly leading steel enterprises, are expected to have opportunities for valuation recovery in the future [1]