成材：宏观作用下，钢价震荡偏强

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - The report suggests short - term waiting and considering short - selling after a price increase [1][2][3] Group 3: Summary According to Related Information Macro Policy - The Party Group of the Ministry of Housing and Urban - Rural Development emphasizes putting urban renewal in a more prominent position, accelerating the construction of a new real - estate development model, and promoting the transformation of urban villages and dilapidated buildings [2] Supply - side Information - Last week, the blast furnace operating rate of 247 steel mills was 83.46%, a 0.31 - percentage - point increase from the previous week; the blast furnace iron - making capacity utilization rate was 90.89%, a 0.99 - percentage - point increase; the daily average pig iron output was 2.4244 million tons, a 26,300 - ton increase [2] - The average capacity utilization rate of 90 independent electric arc furnace steel mills in the country was 51.79%, a 1.43 - percentage - point increase from the previous week and a 6.81 - percentage - point increase year - on - year; the operating rate was 65.08%, a 1.49 - percentage - point increase [2] - Under the anti - involution policy, the market is positive about industries with over - supply, and the sentiment in the steel market is also positive. The output of the five major steel products decreased slightly last week, but steel mills' profits increased, and the operating rate and daily average pig iron output were high [2] Demand - side Information - The actual demand drags down the upward movement of steel prices and even exerts downward pressure. The real - estate market remains sluggish and is difficult to improve in the short term, and the downstream of consumer steel products shows signs of slowing growth [2] Later Concerns - Macro policies, supply - side production cuts, and downstream demand conditions should be focused on [3]