成材：市场情绪回升，钢价窄幅震荡

Group 1: Report Industry Investment Rating - The investment rating for the industry is "Consolidation" [3] Group 2: Core View of the Report - The steel price is expected to move in a consolidation phase. The fundamental contradictions are not significant. The market has certain macro - expectations towards the end of the year, and the rebound of raw materials supports the steel price. However, the weak demand remains unchanged, so the steel price may consolidate in the current range [2][3] Group 3: Summary of Key Data - From November 24th to 30th, the total transaction (contract signing) area of newly - built commercial housing in 10 key cities was 2.1112 million square meters, with a month - on - month increase of 10% and a year - on - year decrease of 38% [2] - The average daily trading volume of construction steel in November was 100,400 tons, with a month - on - month decrease of 0.09% and a year - on - year decrease of 13.19% [2] - From November 1st to 30th, the new - energy vehicle wholesale volume of national passenger vehicle manufacturers was 1.72 million, with a year - on - year increase of 20% and a month - on - month increase of 7%. The cumulative wholesale volume since the beginning of this year was 13.78 million, with a year - on - year increase of 29% [2]