成材：钢铁稳增长方案，钢价震荡偏强

Group 1: Report Industry Investment Rating - The report's view on the industry is that it is operating at a low level [3] Group 2: Core View of the Report - The Ministry of Industry and Information Technology and other departments jointly issued the "Steel Industry Steady Growth Work Plan (2025 - 2026)", setting the average annual growth target of the steel industry's added value at about 4% in the next two years, aiming at "steady growth and preventing involution" and guiding the structural adjustment and high - quality development of the Chinese steel industry [2] - On September 22, the average cost of 76 independent electric arc furnace construction steel mills was 3,337 yuan/ton, with an average profit loss of 123 yuan/ton and a valley - electricity profit loss of 25 yuan/ton [2] - From September 15 to 21, 2025, global shipyards received 35 + 2 new ship orders, with Chinese shipyards getting 16 + 2 and South Korean shipyards getting 11 [2] - Benefiting from the "Steel Industry Steady Growth Work Plan" of the Ministry of Industry and Information Technology, finished products fluctuated strongly. The market has returned to the fundamentals of varieties. Last week, rebar and hot - rolled coil showed differentiation. Rebar production and inventory decreased slightly while apparent demand increased; hot - rolled coil production and inventory increased slightly while performance decreased, resulting in rebar being stronger than hot - rolled coil in price trends. Currently, the weak downstream situation has not improved, and prices are consolidating at low levels [2] Group 3: Later Focus - Later, attention should be paid to macro - policies and downstream demand [3]