钢铁行业周度报告：本周钢材供给端保持扩张节奏，消费环比增加2.03%

Investment Rating - The investment rating for the steel industry is "Recommended" [3] Core Viewpoints - The supply side of the steel industry continues to expand, with a notable increase in consumption by 2.03% week-on-week [2][4] - Macro policies are expected to boost steel demand, leading to a positive outlook for the market [4][19] - The overall inventory of steel continues to decrease, with a significant drop in social inventory by 4.2% [2][4] Summary by Sections 1. Weekly Data Changes in the Steel Industry - The average daily pig iron output increased to 2.3436 million tons, up 0.55% week-on-week [9] - The operating rate of blast furnaces rose to 81.68%, an increase of 0.89 percentage points [9] - Total production of the five major steel products reached 8.7342 million tons, a week-on-week increase of 1.11% [9] 2. Weekly Data Trends Summary - Apparent consumption of the five major steel products totaled 9.1097 million tons, reflecting a week-on-week increase of 2.03% [2][10] - Long products showed a significant increase in consumption, while flat products experienced a slight decline [2][10] - The comprehensive steel price index was recorded at 102.1 points, with a slight decrease of 1.79 points [2][10] 3. Industry News and Company Dynamics - Recent macro policies, including a package of measures from the Ministry of Housing and Urban-Rural Development, are expected to stimulate the steel market [19] - The steel industry is experiencing a recovery in profitability, with the profit margin for steel companies remaining above 70% [4][19] - The report highlights specific company activities, such as Shougang's export of high-strength marine steel to Europe [19]