华宝期货成材晨报-20251105

Group 1: Report Industry Investment Rating - Not provided Group 2: Core Viewpoints of the Report - The fundamentals of finished steel products are weak, and steel prices are under pressure. After the macro - level positive factors from Sino - US trade consultations and the "15th Five - Year Plan" suggestions ended, steel prices returned to their own fundamentals. The current real - estate situation is still sluggish according to statistical data, and the weekly fundamentals last week were neutral with no unexpected supply - demand changes. The weak downstream situation exerts pressure on steel prices [2][3] - The raw materials are expected to move in a downward - correction pattern [3] Group 3: Summary by Relevant Catalogs Steel Production - Some steel mills in Shanxi have proposed shutdown and maintenance plans. One steel mill's blast furnace is planned to shut down for maintenance this weekend, with a daily output impact of about 0.70 thousand tons. Three steel mills are tentatively planned for maintenance in December, with a daily output impact of about 1.35 thousand tons. In October, a total of 33 national construction steel production enterprises carried out production - cut maintenance, affecting the construction steel output by 1.762 million tons, a month - on - month decrease of 2.12%, including an impact on rebar output of 1.3108 million tons [3] Real - Estate Market - From October 27th to November 2nd, the total transaction (signing) area of newly - built commercial housing in 10 key cities was 1.7436 million square meters, a month - on - month increase of 3% and a year - on - year decrease of 35.9% [3]