成材：关注周度基本面情况钢价整理-20250619

Group 1 - Report industry investment rating: Not provided Group 2 - Core view of the report: Still treat it as a short - selling opportunity on rebounds [3] Group 3 - Key points from the logic part: This week, the average含税 cost of steel billets for mainstream sample steel mills in Tangshan was 2,810 yuan/ton, a week - on - week decrease of 22 yuan/ton. Compared with the ex - factory price of common square billets of 2,910 yuan/ton on June 18th, the average profit of steel mills was 100 yuan/ton. 162 billion yuan of the 300 billion yuan consumer goods trade - in support funds have been allocated, and the remaining funds will be allocated in an orderly manner. As of June 18th, the incremental steel billet supply in the East China region in June was about 470,000 tons, with export orders accounting for 36.4%. The increase in steel billet supply was mainly due to the narrowing profit of rebar and more rolling line overhauls. The finished products continued the previous trend, trading in a narrow range at a low level with light market sentiment. Downstream demand has seasonally weakened and is unlikely to improve in the short term, while high -开工 and high - output still persist. The current finished product fundamentals are characterized by strong supply and weak demand [2] Group 4 - Suggestion: It is still recommended to try short - selling on rebounds [2][3] Group 5 - Later concerns: Macroeconomic policies; downstream demand situation [3]