华宝期货晨报成材-20250813

Group 1: Report Industry Investment Rating - Not provided Group 2: Core View of the Report - Short - term fluctuations are large, and it is advisable to try to go long on pullbacks [4] Group 3: Summary According to Related Content International Trade Policy - On August 12, the US and China issued the "Joint Statement of the China - US Stockholm Economic and Trade Talks". The US promised to continue adjusting tariff measures on Chinese goods, and both sides continued to suspend the implementation of 24% reciprocal tariffs and relevant non - tariff counter - measures for 90 days starting from August 12 [3] Steel Industry Cost and Profit - On August 12, the average cost of 76 independent electric arc furnace construction steel mills was 3,353 yuan/ton, with a daily increase of 9 yuan/ton. The average profit was a loss of 39 yuan/ton, and the valley - electricity profit was 62 yuan/ton [3] Real Estate Market - From August 4 to August 10, the total transaction (signing) area of newly built commercial housing in 10 key cities was 1.308 million square meters, a month - on - month decrease of 10.8% and a year - on - year decrease of 4.5%, with the decline narrowing [3] Steel Price Trend - The news of Tangshan's production restrictions over the weekend, combined with the continued rise of raw material coking coal, led to the continued volatile upward trend of steel prices. The current industry fundamentals are average, mainly due to weak downstream demand. With the approaching parade, there is still potential for steel price rebound under the macro - level and Beijing - Tianjin - Hebei production restriction expectations [3] Later Concerns - Macro policies, supply - side production reduction, and downstream demand conditions [4]