钢铁行业周度报告：螺纹钢去库带动钢材整体库存走低，钢价走势出现分化

Investment Rating - The investment rating for the steel industry is "Recommended" [2] Core Viewpoints - The steel industry is experiencing a supply increase while demand remains weak, with infrastructure supported by policy measures [2] - The overall steel inventory is decreasing, driven by a reduction in rebar inventory, while other categories are seeing varied inventory changes [2][7] - Steel prices are showing divergence, with construction steel prices slightly increasing and manufacturing steel prices slightly declining [2][7] Summary by Sections 1. Weekly Data Changes in the Steel Industry - The average daily pig iron output increased to 2.3067 million tons, up 0.85% week-on-week [7] - The operating rate of blast furnaces rose to 80.6%, an increase of 0.87 percentage points [7] - Rebar production increased by 4.39% to 2.3179 million tons, while other categories showed mixed results [7] 2. Weekly Data Trends in the Steel Industry - Total steel inventory decreased to 19.2903 million tons, down 0.6% week-on-week, marking the seventh consecutive week of decline [2][7] - Rebar inventory fell by 3.61% to 9.1454 million tons, while other categories like medium-thick plates and hot-rolled coils saw increases [7] 3. Industry News and Company Dynamics - Hebei Steel reported a revenue of 122.744 billion yuan in 2023, a decrease of 14.5% year-on-year, with a net profit of 1.084 billion yuan, down 22.3% [17] - Yongjin Co. reported a revenue of 9.305 billion yuan in Q1 2024, up 24.3% year-on-year, with a net profit of 122 million yuan, up 30.5% [17] - Anshan Iron and Steel reported a revenue of 42.15 billion yuan in 2023, up 7.43% year-on-year, with a net profit of -1.554 billion yuan [19]