宝城期货热轧卷板周度数据-20250509

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The supply of hot-rolled coils remains at a high level with large pressure, while the demand starts to weaken. Under the situation of strong supply and weak demand, the fundamentals are still not good, and the price of hot-rolled coils continues to be under pressure. It is expected to continue the low-level oscillating operation under the game between expectations and reality, and attention should be paid to the production situation of steel mills [7]. Summary by Related Catalogs Supply - The weekly output of hot-rolled coils is 320.38 million tons, with a week-on-week increase of 1.08 million tons, and the supply continues to rise and is at a high level within the year. The blast furnace capacity utilization rate is 92.09%, with a week-on-week increase of 0.09 percentage points [2]. Demand - Affected by holidays, the demand for hot-rolled coils has weakened significantly, with the weekly apparent demand dropping by 23.19 million tons week-on-week. The downstream cold-rolled production remains at a high level, which supports the demand for hot-rolled coils, but the fundamental contradictions are accumulating, and the positive effect is not strong. Overseas risks remain, and external demand is under pressure, so the demand for hot-rolled coils will continue to weaken [7]. Inventory - The total inventory of hot-rolled coils is 365.12 million tons, with a week-on-week increase of 10.85 million tons. The in-plant inventory is 84.80 million tons, with a week-on-week decrease of 0.70 million tons. The social inventory is 280.32 million tons, with a week-on-week increase of 11.55 million tons [2].