热轧卷板周度数据-20251010

Report Summary 1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - During the holiday, the supply - demand pattern of hot - rolled coils continued to weaken. The production of plate mills was weakly stable, with weekly output down 1.40 tons week - on - week but still at a high level this year. High inventory led to relatively large supply pressure, which continued to weigh on steel prices. Meanwhile, hot - rolled coil demand was weak during the holiday, with weekly apparent demand down 33.64 tons week - on - week. Although the high output of cold - rolled products provided some support, there were concerns about hot - rolled coil demand due to unresolved cold - rolled industry contradictions and limited improvement in external demand. Currently, hot - rolled coil supply remains high while demand is weak, the fundamentals continue to deteriorate, inventory has increased significantly during the holiday, and prices are under pressure. Attention should be paid to post - holiday demand performance [6] 3. Summary by Relevant Catalogs Supply - Weekly output of hot - rolled coils was 323.29 tons, a week - on - week decrease of 1.40 tons, and a month - on - month decrease of 1.40 tons. Compared with the same period, it increased by 15.10 tons. The blast furnace capacity utilization rate was 90.55%, down 0.10 percentage points week - on - week and month - on - month, and up 3.04 percentage points compared with the same period [2] Demand - The apparent demand for hot - rolled coils was 290.97 tons, a week - on - week and month - on - month decrease of 33.64 tons, and a year - on - year decrease of 24.99 tons. The weekly output of cold - rolled coils was 88.07 tons, a week - on - week and month - on - month increase of 0.04 tons, and a year - on - year increase of 4.16 tons [2] Inventory - The total inventory of hot - rolled coils was 412.90 tons, a week - on - week and month - on - month increase of 32.32 tons, and a year - on - year increase of 29.60 tons. The in - plant inventory was 83.60 tons, a week - on - week and month - on - month increase of 2.40 tons, and a year - on - year decrease of 1.57 tons. The social inventory was 329.30 tons, a week - on - week and month - on - month increase of 29.92 tons, and a year - on - year increase of 31.17 tons [2]