Group 1 - The overall steel production in China remained stable in Q1 2025, with crude steel apparent consumption continuing to decline year-on-year, indicating a persistent supply-demand imbalance [1] - Crude steel production reached 259 million tons, a slight increase of 0.6% year-on-year, while apparent consumption decreased by 1.2% to 230 million tons [1] - Steel exports remained high at 27.43 million tons, up 6.3% year-on-year, while imports fell by 11.3% to 1.55 million tons [2] Group 2 - The average steel price index (CSPI) in Q1 was 95.59 points, reflecting a year-on-year decrease of 13.66%, with long product and flat product indices also showing declines [2] - Key steel enterprises reported a total revenue of 1,436 billion yuan, down 6.61% year-on-year, but total profits increased by 108% to 21.58 billion yuan, indicating improved profitability [3] - Environmental performance of steel enterprises is improving, with 189 companies completing or partially completing ultra-low emission modifications, contributing to the establishment of the world's largest clean steel production system [3]