Core Viewpoint - The steel industry is expected to benefit from the recently released "Steel Industry Steady Growth Work Plan," which aims for an average annual growth target of around 4% in value added over the next two years, promoting structural adjustments and high-quality development in the sector [1]. Group 1: Policy and Industry Outlook - The "Steel Industry Steady Growth Work Plan" emphasizes "precise control of capacity and output" and "promotion of industry transformation and upgrading," which are key development directions for the industry in the future [1]. - The plan encourages steel companies to accelerate digital transformation and utilize AI technology to improve production efficiency [1]. - The ongoing supply-side anti-involution is leading to a concentration of capacity towards high-quality leading enterprises, making the performance improvement of industry leaders a focal point for attention [1]. Group 2: Investment Opportunities - The only steel ETF in the market (515210) has seen a net inflow of over 570 million yuan in the past 10 days, indicating strong investor interest [1]. - Investors without stock accounts can consider the steel ETF's connecting funds (008190) to seize investment opportunities in the steel sector [1]. - The focus on the steel sector includes investments in steel plates, special steel, and metal products, providing a diversified approach for potential investors [1].

Group 1 - The core viewpoint is that steel demand is expected to stabilize while supply is anticipated to continue contracting, with infrastructure and manufacturing sectors showing steady growth in steel demand [1] - From January to July, steel exports maintained a year-on-year growth, indicating a positive trend in overall steel demand [1] - The steel industry has been experiencing losses since Q3 2022, leading to a market-driven supply adjustment, which is expected to continue [1] Group 2 - The recently released "Steel Industry Stabilization Growth Work Plan (2025-2026)" emphasizes the continuation of production reduction policies, aiming to support advanced enterprises and phase out inefficient capacities, thereby promoting a dynamic balance between supply and demand [1] - The fundamental outlook for the steel industry is expected to gradually improve as supply-side contraction is maintained [1] - Investors interested in the steel sector can consider the only ETF tracking the steel industry (515210) for exposure to steel plates, special steel, and metal products [1]

Group 1 - The long-term development trend of the steel industry is the improvement of industry concentration and high-quality development, with steel companies that have product structure and cost advantages benefiting [1] - Under the backdrop of stricter environmental regulations, ultra-low emission transformations, and carbon neutrality, leading companies will see their competitive advantages and profitability become more pronounced [1] - Demand for steel in infrastructure and manufacturing is expected to grow steadily, with steel exports maintaining year-on-year growth from January to July, indicating that steel demand is gradually stabilizing [1] Group 2 - The steel ETF (515210) tracks the CSI Steel Index (930606), which selects listed companies involved in both ordinary and special steel businesses from the A-share market to reflect the overall performance of related listed companies [1] - The index constituents cover upstream and downstream enterprises in the steel industry chain, with holdings primarily concentrated in the raw materials sector and evenly distributed across the Shanghai and Shenzhen stock exchanges [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and Guotai CSI Steel ETF Connect A (008189) [1]

Group 1 - The core viewpoint indicates that steel production remains stable, with potential supply reductions in Tangshan due to environmental regulations, which may support steel prices [1] - The profitability of major steel products is highlighted, with gross margins for high furnace rebar, hot-rolled, and cold-rolled steel at 121 CNY/ton, 151 CNY/ton, and 59 CNY/ton respectively, and an overall profitability rate of 65.8% for sample steel companies [1] - Long-term policies are expected to improve the supply-demand dynamics in the industry, combined with a decrease in raw material prices and process optimization in the first half of the year, indicating a recovery in industry profitability and significant mid-to-long-term investment value [1] Group 2 - The steel ETF (515210) tracks the CSI Steel Index (930606), which selects listed companies in the steel sector from the Chinese A-share market to reflect the overall performance of the steel industry [1] - The index constituents cover major segments of the steel supply chain, reflecting the market value and development trends of the raw materials industry [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and Guotai CSI Steel ETF Connect A (008189) [1]

Group 1 - The 14th China International Steel Conference will be held on August 5, 2025, where the China Iron and Steel Association and Shanghai Baoshan will initiate a strategic cooperation and launch a new generation of low-carbon steel products [1] - The steel industry has undergone two rounds of supply-side optimization from 2016 to 2020 and in 2021, accumulating valuable experience that lays the foundation for the current anti-involution policies [1] - If the anti-involution policies lead to a reduction in crude steel production, it will further improve industry profits, with the current anti-involution trend expected to go through two phases: policy expectation trading and fundamental improvement [1] Group 2 - The supply-side policies have a significant effect on improving profit per ton of steel, and in the context of gradually declining demand, energy conservation and emission reduction may become the core tool for controlling production [1] - The Steel ETF (515210) tracks the CSI Steel Index (930606), which selects relevant listed company securities in the steel industry from the Shanghai and Shenzhen markets to reflect the overall performance of steel industry listed companies [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and Guotai CSI Steel ETF Connect A (008189) [1]

Group 1 - The core viewpoint is that the steel price is expected to remain strong due to ongoing production cut expectations and supportive government policies aimed at reducing excess capacity in the steel industry [1] - The Central Economic Committee emphasized the orderly exit of outdated production capacity during its sixth meeting on July 1, and the Ministry of Industry and Information Technology announced a new round of growth stabilization plans for key industries, including steel [1] - The upcoming military parade is anticipated to enhance production cut expectations, drawing parallels to the significant production restrictions imposed during the 2015 parade in the Beijing-Tianjin-Hebei region, which provided support to the supply side [1] Group 2 - Current profits for ordinary steel are substantial, and under the backdrop of "anti-involution" policies, there is considerable room for performance improvement among ordinary steel companies [1] - The trend towards high-quality economic development is expected to benefit high-end steel products, influenced by energy cycles and substitution effects [1] - The Steel ETF (515210) tracks the CSI Steel Index (930606), which selects representative listed companies in the steel industry from the A-share market, reflecting the overall performance of the steel sector [1]

Group 1 - The steel industry is expected to maintain stable demand due to a series of "stabilizing growth" policies, with support from real estate stabilization, steady infrastructure investment, ongoing manufacturing development, and high steel exports [1] - The supply of steel is tightening under the expectation of supply-side policies, leading to a stronger industry concentration, which is likely to keep the overall supply-demand situation stable [1] - High-end steel products, benefiting from energy cycles, domestic substitution, and high barriers to entry in high-value-added manufacturing, are expected to gain significantly [1] Group 2 - Current profits for common steel are considerable, and under the backdrop of "anti-involution" in the industry, profits per ton of steel may continue to expand, indicating significant improvement potential for common steel companies [1] - The steel ETF (515210) tracks the CSI Steel Index (930606), which reflects the overall performance of listed companies in the steel industry, covering representative enterprises across the steel production, processing, and sales sectors [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect A (008189) and Guotai CSI Steel ETF Connect C (008190) [1]

Group 1 - The steel industry is showing signs of recovery, with an increase in operating rates for coking, rebar, and wire rod production [1] - The comprehensive steel price index has increased by 4.6% month-on-month, indicating a significant rise in steel prices [1] - Infrastructure funding is abundant, and project reserves are increasing, which may lead to marginal improvements in infrastructure and support steel demand [1] Group 2 - The Steel ETF (515210) tracks the CSI Steel Index (930606), which reflects the overall performance of listed companies involved in steel production, processing, and sales [1] - The index includes companies across the steel industry supply chain, emphasizing cyclical steel manufacturing and related services [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and A (008189) [1]

Group 1 - The steel ETF (515210) rose over 2.2% on July 29, indicating positive market sentiment towards the steel industry [1] - From January to June, the profit of the black metal smelting and rolling industry increased by 13.7 times year-on-year, driven by ongoing supply reduction policies [1] - The Central Financial Committee emphasized the need to "govern low-price disorderly competition and promote the exit of backward production capacity," which is expected to further enhance steel profits [1] Group 2 - The average gross profit of rebar in July reached 213 yuan per ton, more than doubling from the first quarter (82 yuan) and the second quarter (86 yuan) [1] - Current strict implementation of crude steel production cuts and relaxed iron ore supply suggest that there is still room for steel profits to rise [1] - Major steel product prices have shown significant weekly increases, with rebar and hot-rolled coil gross profits reaching 312 yuan/ton and 305 yuan/ton, respectively, indicating ongoing recovery in industry profitability [1] Group 3 - The steel ETF (515210) tracks the CSI Steel Index (930606), which selects listed companies involved in steel production and processing to reflect the overall performance of the steel industry [1] - The CSI Steel Index is characterized by strong cyclicality and a high correlation with the macro economy, serving as an important indicator of the market performance of China's steel industry [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and Guotai CSI Steel ETF Connect A (008189) [1]

Group 1 - The steel industry is showing signs of recovery, with high furnace operating rates remaining stable compared to the previous week, and increases in the operating rates for coking, rebar, and wire rod [1] - The comprehensive steel price index has increased by 4.6% month-on-month, driven by the "anti-involution" policy and a rebound in industrial product prices [1] - Increased funding for infrastructure and a rise in project reserves are expected to support steel demand through marginal improvements in infrastructure [1] Group 2 - The steel ETF (515210) tracks the CSI Steel Index (930606), which includes listed companies involved in steel smelting, processing, and related businesses, reflecting the overall performance of the steel industry [1] - The index covers the entire steel industry chain, including iron ore mining, steel production, and sales, and is closely related to macroeconomic conditions and industry policies [1] - Investors without stock accounts can consider the Guotai CSI Steel ETF Connect C (008190) and Guotai CSI Steel ETF Connect A (008189) [1]