Group 1: Steel Industry Report Industry Investment Rating Not provided Core Viewpoint The steel price is expected to maintain a range-bound fluctuation, with attention paid to the support level of 3000 for rebar and 3240 for hot-rolled coils. Short positions should be closed, and unilateral trading should be temporarily on hold [1][3] Summary by Directory - **Steel Prices and Spreads**: Rebar and hot-rolled coil spot prices in various regions decreased by 10 yuan/ton, and most futures contracts also declined [1] - **Cost and Profit**: The billet price decreased by 30 yuan/ton, and the slab price remained unchanged. The profits of hot-rolled coils in some regions increased, while the profits of rebar in some regions decreased [1] - **Production and Inventory**: The daily average pig iron output decreased slightly, while the production of five major steel products increased by 1.9%. The inventory of five major steel products decreased by 3.0% [1] - **Trading and Demand**: The building materials trading volume decreased by 8.5%, while the apparent demand for five major steel products increased by 3.9%, with rebar and hot-rolled coils showing significant rebounds [1] Group 2: Iron Ore Industry Report Industry Investment Rating Not provided Core Viewpoint The iron ore price is expected to maintain a high-level fluctuation, and unilateral trading should be on hold [4] Summary by Directory - **Iron Ore Prices and Spreads**: The warehouse receipt costs of some iron ore varieties decreased slightly, and the basis of some varieties changed [4] - **Supply and Demand**: The global iron ore shipment volume increased by 14.6% week-on-week, while the arrival volume at 45 ports decreased by 17.2%. The demand side showed a slight decline in pig iron production and an increase in the port's daily average desilting volume [4] - **Inventory Changes**: The port inventory decreased slightly, and the inventory of imported ore in 247 steel mills decreased by 0.8% [4] Group 3: Coke and Coking Coal Industry Report Industry Investment Rating Not provided Core Viewpoint Both coke and coking coal are viewed as bearish in a range-bound manner. For coke, the reference range is 1550 - 1700, and for coking coal, it is 1050 - 1200. Temporarily hold off on trading [6] Summary by Directory - **Prices and Spreads**: Coke and coking coal futures prices decreased, and the basis of some contracts changed. The profits of coking plants and sample coal mines also changed [6] - **Supply and Demand**: The coke production decreased slightly, and the pig iron production decreased by 0.3%. The coking coal supply is expected to increase, but the production recovery is limited [6] - **Inventory Changes**: The overall inventory of coke and coking coal decreased slightly. The inventory of coking plants, ports, and steel mills decreased, while the inventory of coal mines and ports increased [6]