Group 1 - The Chinese steel industry has experienced rapid development and adjustment over the past 16 years since the listing of rebar futures in 2009, with crude steel production peaking at 1.065 billion tons in 2020 and projected to decline to 1.005 billion tons by 2024, a total decrease of 60 million tons [1] - Despite the overall decline in crude steel production, there is a notable differentiation in product types, with rebar production decreasing from 266 million tons in 2020 to 195 million tons in 2024, a reduction of 7 million tons, while hot-rolled coil production increased by 9.5 million tons during the same period [1] - China's steel exports have shown a growth trend, with 2023 exports reaching 110 million tons, nearing the historical peak of 112 million tons in 2016, indicating a shift towards higher value-added products in steel exports [1] Group 2 - Since the second half of 2022, the price gap between imported and exported steel has widened, with the average import price approaching twice that of the export price, and some high-end products from Germany and Sweden exceeding 3,000 USD per ton [2] - The export price has been under pressure due to intense domestic market competition, leading to a decline in export prices and contributing to increased trade friction in the international market [2]