成材：缺乏驱动延续低位整理

Group 1: Report Industry Investment Rating - No investment rating provided in the report Group 2: Core Viewpoints of the Report - The report suggests taking a short - selling approach on rallies for both finished products and raw materials [2][3] Group 3: Summary by Relevant Catalog Real Estate Transaction Data - From June 9th to June 15th, the total transaction (signing) area of newly - built commercial housing in 10 key cities was 1.6088 million square meters, with a 24% month - on - month increase and a 3.6% year - on - year decrease; the total transaction (signing) area of second - hand housing was 2.1823 million square meters, with a 17.8% month - on - month increase and a 5.4% year - on - year increase [3] Steel Mill Cost and Profit - On June 17th, the average cost of 76 independent electric arc furnace construction steel mills was 3262 yuan/ton, with a daily increase of 2 yuan/ton, an average profit loss of 129 yuan/ton, and a valley - electricity profit loss of 26 yuan/ton [3] Market Situation and Suggestion - The finished products oscillated and sorted at a low level yesterday, with downstream demand seasonally weakened and difficult to improve effectively in the short term, while high - start and high - output situations still exist, presenting a situation of strong supply and weak demand. It is recommended to try short - selling on rallies [3] - The view on raw materials is also to try short - selling on rallies [3]