华宝期货晨报成材-20260305

Group 1 - Report industry investment rating: Not mentioned Group 2 - Core view: The steel price is expected to move in a volatile manner [3] Group 3 - Key points from the report: The steel market continued to fluctuate yesterday, with the current market focus on the energy and chemical sectors and the black market remaining relatively calm. Steel prices have been adjusting laterally in a narrow range in the past few trading days. The turmoil in the Middle East has little impact on the domestic steel sector. Attention should be paid to the verification of demand and whether there are major macro - policies during the Two Sessions that could affect steel prices [2] - Information from the 14th National People's Congress: This year, China will adhere to the strategic basis of expanding domestic demand, boost consumption, and formulate laws such as the Law on Nursery Services. The basic policies of the Party and the state to promote the development of the private economy will remain unchanged. The central government will introduce more policies to benefit Hong Kong. China and the US should respect each other, coexist peacefully, and achieve win - win cooperation. China - EU economic and trade relations are based on complementary advantages and mutual benefit. China is highly concerned about the situation in Iran and calls for an immediate stop to military actions and the resumption of dialogue and negotiation to maintain peace and stability in the Middle East [2] - Cost and price changes: This week, the average tax - free hot metal cost and the average tax - included billet cost of mainstream sample steel mills in Tangshan increased slightly compared with last week. The billet ex - factory price rose, and the loss decreased to about 70 yuan/ton [2] - Later concerns: Macro policies and downstream demand conditions [3]