成材：供应或有上升，钢价偏弱运行

Report Industry Investment Rating - The industry is rated as having an oscillatory and weakly downward trend [3] Report's Core View - The steel price of finished products is expected to run in an oscillatory and weakly downward manner, with supply pressure increasing after enterprises resume production post - parade, while downstream demand remains weak [1][2][3] Summary by Related Content Construction Funds and Steel Mill Costs - As of September 2, the capital availability rate of sample construction sites was 59.4%, a week - on - week increase of 0.18 percentage points, and that of housing construction projects was 51.39%, a week - on - week increase of 0.44 percentage points. The average含税 cost of steel billets of mainstream sample steel mills in Tangshan this week was 2,971 yuan/ton, an increase of 8 yuan/ton week - on - week, resulting in an average loss of 21 yuan/ton compared with the ex - factory price of 2,950 yuan/ton on September 3 [2] Steel Mill Orders - As of August 31, the steel billet hand - held order volume of sample steel mills was 1.267 million tons, a 27% increase (270,000 tons) from the previous survey. In terms of order receipt, domestic trade orders were 668,000 tons, an increase of 128,000 tons, and direct export orders were 599,000 tons, an increase of 142,000 tons [2] Construction Site Construction Dynamics - A total of 66 traders, sub - terminals, and downstream enterprises in the Beijing - Tianjin - Hebei region stopped work from late August to September 4, and are expected to resume work on the afternoon of September 3 and September 4 [2] Market Performance of Finished Products - Finished products continued to be weak yesterday. Both rebar and hot - rolled coils closed with small negative lines, with the overall center of gravity shifting downward [2]