成材：减排消息致钢价反弹

Group 1: Report Industry Investment Rating - Not provided Group 2: Core View of the Report - The steel price is expected to fluctuate, and attention should be paid to the sustainability of the rebound [3] Group 3: Summary by Relevant Catalog Reasons for Steel Price Rebound - Some steel enterprises in North China have received a notice of temporary independent emission reduction during the 2026 national important meeting, requiring them to implement phased emission reduction control from March 4th to March 11th, with the blast furnace load reduced by no less than 30%. The control focuses on key emission processes such as blast furnaces to ensure stable air quality during the meeting [3] - Shanghai has issued the "Shanghai Seven" real - estate policy, which relaxes the purchase restriction policy, including reducing the social security requirement for non - Shanghai residents to buy housing inside the outer ring from 3 years to 1 year, allowing those who have paid social security for 3 years to purchase an additional property, and those with a residence permit for 5 years to buy one property without social security. The maximum amount of provident fund family loans can reach 3.24 million yuan, and Shanghai - registered families can be temporarily exempted from property tax when purchasing their only housing [3] - Affected by the emission reduction notice for the Two Sessions, the black - colored plate strengthened as a whole yesterday, with the prices of rebar and hot - rolled coil rising by more than 1%. The steel price rebound is mainly due to market sentiment, and the fundamentals of steel have not changed much [3] Later Concerns - Macro - policies and downstream demand conditions [4]