热轧卷板周度数据（20260313）-20260313

Report Industry Investment Rating - No relevant content provided Core View of the Report - The supply of hot-rolled coils has contracted, demand has seasonally rebounded, and the supply-demand pattern has improved. Coupled with strong raw materials providing cost support, the price of hot-rolled coils has fluctuated higher. However, the resilience of demand is questionable, and the subsequent trend of coil prices under the high inventory situation should be viewed with caution. Attention should be paid to the performance of demand [3]. Summary by Relevant Catalogs Supply - The weekly production of hot-rolled coils was 2952600 tons, a week-on-week decrease of 58500 tons, and a decrease of 143500 tons from the end of last month. The production of plate steel mills has weakened, and the supply has continued to shrink [2]. - The blast furnace capacity utilization rate was 82.92%, a week-on-week decrease of 2.40 percentage points, and a decrease of 4.53 percentage points from the end of last month [2]. Demand - The apparent demand for hot-rolled coils was 2953600 tons, a week-on-week increase of 137900 tons, and an increase of 40500 tons this month. The demand performance was okay, and the high-frequency daily transactions increased significantly, providing support for prices. However, the contradictions in the downstream cold-rolled industry remain unresolved, and exports have decreased under the disturbance of the Middle East conflict, so the resilience of demand is questionable [2][3]. Inventory - The total inventory of hot-rolled coils was 4715900 tons, a week-on-week decrease of 1000 tons, and an increase of 194400 tons this month. The inventory inflection point has appeared, but its sustainability needs to be tracked [2]. - The in-plant inventory was 892800 tons, a week-on-week decrease of 8000 tons, and a decrease of 55000 tons from the end of last month [2]. - The social inventory was 3823100 tons, a week-on-week increase of 7000 tons, and an increase of 249400 tons this month [2].