成材：基本面偏弱钢价回调

Group 1: Report Industry Investment Rating - The report suggests a wait - and - see approach [4] Group 2: Core Viewpoints - The fundamentals of the steel products industry are weak, and steel prices are undergoing a correction. The market is mainly influenced by macro factors and sentiment, with large price fluctuations. It is recommended to mainly observe the market [2][3][4] Group 3: Summary by Related Contents Steel Inventory - This week, the total steel inventory was 13.5189 million tons, a week - on - week increase of 0.01539 million tons. Among them, the steel mill inventory was 0.40952 million tons, a week - on - week increase of 0.0001 million tons; the social inventory was 0.94237 million tons, a week - on - week increase of 0.01529 million tons [3] - The inventory of steel billets in major warehouses and ports in Tangshan was 1.223 million tons, a week - on - week increase of 0.0552 million tons and a 12.22% increase compared to the same period last year [3] Production Line Operation - Among the 87 section steel production lines in Tangshan, 27 were actually in operation, with an overall start - up rate of 45.76%, a 5.08% decrease from last week. The capacity utilization rate of profiles was 46.12%, a 0.80% increase from last week [3] Steel Price - On July 31, the ex - factory tax - included price of common square billet resources in Qian'an, Tangshan was cumulatively reduced by 100 yuan, reaching 3080 yuan per ton [3] Market Situation - During the research period, the steel market trend slowed down week - on - week, trading activity decreased, there was more wait - and - see attitude at high prices, and inventory continued to accumulate slightly. Some domestic trade resources at ports were still being shipped for export [3] - In terms of weekly data, both supply and demand of rebar decreased and inventory increased, while for hot - rolled steel, both supply, demand, and inventory increased. The weekly fundamentals were neutral to weak [3]