热轧卷板周度数据（20251205）-20251205

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The supply pressure of hot-rolled coils has limited relief, demand continues to weaken, the fundamentals are weak, and coil prices remain under pressure. The price is expected to continue the trend of oscillating to find the bottom, and attention should be paid to the production situation of steel mills. The approaching major conference brings optimistic expectations [3] Group 3: Summary According to Relevant Catalogs Supply - The weekly output of hot-rolled coils decreased by 47,000 tons compared with the previous week, and the supply has declined from the high level, but the inventory is high and the pressure relief is limited. The blast furnace capacity utilization rate decreased by 0.90 percentage points compared with the previous week [2] Demand - The weekly apparent demand for hot-rolled coils decreased by 53,600 tons compared with the previous week. Although the output of downstream cold-rolled coils has increased, the industrial contradictions are still not effectively resolved, which still easily drags down the hot-rolled coils. External demand is stable [2][3] Inventory - The total inventory of hot-rolled coils decreased by 55,000 tons compared with the previous week, the factory inventory increased by 19,000 tons, and the social inventory decreased by 24,500 tons [2]