钢铁行业周报：2024Q2钢铁板块归母净利17亿

Investment Rating - The report does not explicitly state an investment rating for the steel industry, but it suggests关注 (focus on) specific companies such as Baosteel, Hualing Steel, Nanjing Steel, CITIC Special Steel, and Shougang [4]. Core Insights - The steel industry is experiencing a decline in profitability, with the average profit margin for 247 steel companies reported at approximately 3.90%, which is near the lowest level recorded since August 2012 [4][43]. - The report highlights a significant decrease in crude steel production, with July 2024 figures showing a year-on-year decline of 9.0% [4][60]. - Steel exports have increased by 21.8% year-on-year for the first seven months of 2024, totaling 61.227 million tons [4][60]. Summary by Sections Market Performance - The steel sector index increased by 0.79% last week, while individual stocks like Fushun Special Steel rose by approximately 6% [4][10]. Steel Prices - The Myspic steel price index rose by 1.95% last week, with rebar futures increasing by 2.16% and hot-rolled coil futures by 3.73% [4][16][21]. Costs - The Platts index for iron ore increased by 4.38%, with iron ore futures rising by 4.79% [4][25]. - Coking coal prices fell by 3.13%, while coking futures rose by 5.69% [4][29]. Profitability - The gross profit per ton of steel has decreased, nearing the lowest levels in the past five years [4][38]. Supply - Daily pig iron production decreased by 1.62%, and the total production of five major steel products fell by 0.04% [4][45]. Inventory - Social steel inventory decreased by 3.93% last week, with major steel mills' inventories dropping by 6.06% [4][50][51]. Trade Volume - Mainstream traders' construction material sales have significantly declined compared to the same period in 2023, with a drop of 17.35% in the last week [4][58]. Export Data - Steel exports for July 2024 were reported at 7.827 million tons, a decrease of 10.5% month-on-month but an increase of 21.8% year-on-year for the first seven months [4][60]. Production Data - Crude steel production in July 2024 was 82.94 million tons, down 9.0% year-on-year [4][60].