Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The supply - demand contradiction in the steel and ore industry is not prominent, and the short - term trend is expected to be volatile. The I2601 contract is recommended to focus on the 750 - 800 yuan/ton range, and consider going long lightly around 750 yuan/ton with a stop - loss. For the Spiral Coil 2510 contract, short - term long positions can be taken when it retraces to the key support level, while controlling the position and setting a stop - loss. The RB2510 contract has a resistance level of 3384 and a support level of 3150, and the hot - rolled coil has a support level of 3300 and a resistance level of 3550 [5]. 3. Summary by Related Catalogs Steel and Ore Market Conditions - This week, the steel and ore market first rose and then fell. The iron ore trend was stronger than that of finished products, and its high point was close to the previous high. The iron ore has completed the main contract roll - over [6]. - This week, the supply of steel increased. The supply of five major steel products was 871.63 tons, a week - on - week increase of 2.42 tons or 0.3%. The total inventory was 1415.97 tons, a week - on - week increase of 40.61 tons or 2.95%. The weekly consumption was 831.02 tons, a decrease of 1.7% [15]. Demand Side - In the terminal market, the year - on - year decline rates of real estate investment and new construction have both widened, and the demand for steel in the real estate sector has continued to have a negative feedback. The manufacturing growth rate is 6.2% and the infrastructure investment growth rate is 3.2%, both lower than last month, indicating that the demand side remains weak. Overall, the downstream industries have not recovered [5]. Supply Side - Before the military parade activity's production restrictions, steel mills were highly motivated to start production. The daily hot - metal output this week was 2.4066 million tons, a week - on - week increase of 0.3 million tons. The inventory and daily consumption of imported sintered powder both increased, and there is still a profit in off - peak electricity for short - process steelmaking. Starting from August 16, steel mills will start production restrictions, and it is expected that steel production will decline until early September [5][17]. - The iron ore shipping volume has decreased week - on - week, especially the shipping volume from Australia. The supply of iron ore is expected to shrink. The continuous decline in iron ore shipping volume for two weeks means that the short - term pressure on iron ore arrival at ports is not significant. The port iron ore inventory has slightly increased, but the inventory contradiction is not prominent [5][24]. Important News - On August 13, some steel mills in Hebei and Tianjin regions raised the coke purchase price for the sixth time. The price of tamping wet - quenched coke increased by 50 yuan/ton, and the price of tamping dry - quenched coke increased by 55 yuan/ton. The price of top - charged wet - quenched coke increased by 70 yuan/ton, and the price of top - charged dry - quenched coke increased by 75 yuan/ton, with mainstream steel mills tendering on the 14th [12]. - From August 16 to early September, some steel enterprises in Tangshan will implement production restrictions, but the actual implementation effect remains to be observed [14]. - Nearly 30 cities have introduced 34 property market relaxation policies, including Guangzhou's plan to fully cancel the "four restrictions" and Beijing's cancellation of purchase restrictions outside the Fifth Ring Road [14].