本周五（10月10日），国内期市轻化工板块有涨有跌。其中，纤维板期货呈现震荡上行走势，截至收 盘，主力合约小幅上涨0.40%，报收于1262.00元/吨。 2025年9月下旬，重点统计钢铁企业钢材库存量1467万吨，环比上一旬减少62万吨，下降4.1%；比年初 增加230万吨，增长18.6%；比上月同旬减少31万吨，下降2.1%；比去年同旬增加39万吨，增长2.7%， 比前年同旬减少58万吨，下降3.8%。 2025年9月下旬，重点统计钢铁企业共生产粗钢1889万吨，平均日产188.9万吨，日产环比下降8.9%；生 铁1817万吨，平均日产181.7万吨，日产环比下降4.9%；钢材2142万吨，平均日产214.2万吨，日产环比 增长4.0%。 据钢材航运最新数据，9月国内32港口钢材出口总量1230.42万吨，环比增加2.17%。主要港口中，天津 新港9月钢材出港量374.04万吨，环比增加28.26%；京唐港9月钢材出港量124.25万吨，环比增加 38.13%；罗泾港9月钢材出港量109.87万吨，环比增加19.98%。 ...

新华财经北京10月10日电中国钢铁工业协会10日发布数据，2025年9月下旬，重点统计钢铁企业共生产 粗钢1889万吨，平均日产188.9万吨，日产环比下降8.9%；生铁1817万吨，平均日产181.7万吨，日产环 比下降4.9%；钢材2142万吨，平均日产214.2万吨，日产环比增长4.0%。 据此估算，本旬全国日产粗钢234万吨、环比下降8.9%（见图1），日产生铁218万吨、环比下降4.9%， 日产钢材414万吨、环比下降0.7%。 分地区来看，9月下旬六大地区中，除东北地区重点统计企业粗钢日产量较上一旬有所增长外，其它地 区均有不同程度下降。 同期发布的库存数据显示，2025年9月下旬，重点统计钢铁企业钢材库存量1467万吨，环比上一旬减少 62万吨，下降4.1%；比年初增加230万吨，增长18.6%；比上月同旬减少31万吨，下降2.1%；比去年同 旬增加39万吨，增长2.7%，比前年同旬减少58万吨，下降3.8%。 （文章来源：新华财经） ...

Group 1 - The core viewpoint of the article highlights the production and sales status of the high-purity pig iron industry in China from 2026 to 2032, as well as investment strategies in this sector [1] - According to the National Bureau of Statistics, China's pig iron production in August 2025 was 0.7 million tons, representing a year-on-year increase of 1% [1] - The cumulative pig iron production in China from January to August 2025 reached 5.8 million tons, showing a cumulative decline of 1.1% [1] Group 2 - The article references several listed companies in the steel industry, including Baosteel Co., Ltd. (600019), Maanshan Iron & Steel Co., Ltd. (600808), and Ansteel Group Corporation (000898) [1] - The data presented is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting, a leading industry consulting firm in China [1] - Zhiyan Consulting has been deeply engaged in industry research for over a decade, providing comprehensive industry research reports and customized services [1]

Core Viewpoint - The steel industry is experiencing a decline in demand and production, with the PMI for September at 47.7%, indicating a continuous decrease for two months, and the traditional peak season characteristics are not evident [1][3][4]. Demand and Supply Analysis - Weak real estate investment and slowing infrastructure construction have contributed to a lackluster demand in the steel market, with the new orders index dropping to 45.2%, a decrease of 4.5 percentage points [3][4]. - The production index for the steel industry fell to 45.7%, down 2.3 percentage points, indicating a continued slowdown in production activities [8][12]. - Despite a slight increase in average daily crude steel production in early September, overall production levels have decreased compared to the previous month [8][12]. Inventory and Pricing Trends - Finished product inventory pressure is rising, with the inventory index reaching 54%, marking a two-month expansion and the highest level in nine months [8][12]. - Raw material prices remain high, with the purchasing price index above 60% for three consecutive months, leading to increased cost pressures for steelmaking [12][14]. - Steel prices showed minor fluctuations, with the Shanghai rebar price index indicating a slight decrease compared to the previous month, compressing profit margins for steel mills [14][16]. Future Outlook - October is expected to see a rebound in steel demand due to the resumption of outdoor construction post-holidays and the easing of extreme weather impacts [16][17]. - Steel mills are anticipated to increase production in response to rising demand, with a business activity expectation index of 67.1%, indicating a positive outlook for the coming month [17].

Steel Industry Production Situation - In August 2025, the production of pig iron in China reached 69.793 million tons, a year-on-year increase of 1.0% but a month-on-month decrease of 1.4% [2] - The production of crude steel in August was 77.369 million tons, showing a year-on-year decrease of 0.7% and a month-on-month decrease of 2.9% [2] - The production of steel products in August was 122.765 million tons, a year-on-year increase of 9.7% and a month-on-month decrease of 0.1% [2] National Iron Ore Production Situation - In August, the production of iron ore raw ore was 81.633 million tons, a year-on-year increase of 8.8% but a month-on-month decrease of 5.4% [3] - Cumulative production of iron ore raw ore from January to August was 678.104 million tons, a year-on-year decrease of 4.2% [3] - The production of iron concentrate in August was 23.003 million tons, a year-on-year increase of 3.4% but a month-on-month decrease of 0.5% [3] Iron Ore Import Situation - In August, China imported 105.225 million tons of iron ore, a year-on-year increase of 3.9% and a month-on-month increase of 0.6% [4] - The import value was 975.552 million USD, a year-on-year decrease of 2.7% [4] - The average monthly price was 92.72 USD per ton, a year-on-year decrease of 9.7% [4] Iron Ore Supply and Demand Situation - From January to August, the production of pig iron was 57.907 million tons, a year-on-year decrease of 1.1% [5] - The domestic iron ore raw ore production was 67.810 million tons, a year-on-year decrease of 4.2% [5] - The iron ore import volume was 80.162 million tons, a year-on-year decrease of 1.6% [5] - As of the end of August, the port inventory of imported iron ore was 13.763 million tons, a month-on-month increase of 0.6% but a year-on-year decrease of 10.5% [5] Investment Situation in Black Metal Mining Industry - From January to August, the fixed asset investment in the mining industry increased by 3.0%, with black metal mining investment increasing by 15.6%, exceeding the national mining industry growth by 12.6 percentage points [6] - The cumulative growth rate of private investment in the black metal mining sector was 19.0%, higher than the national average by 1.2 percentage points [6] - Investment willingness and activity in the black metal mining sector remain strong [6] Revenue and Profit Situation in Black Metal Mining Industry - From January to August, the total operating revenue of the mining industry was 3,372.77 billion CNY, a year-on-year decrease of 13.1% [7] - The operating revenue of the black metal mining sector was 305.64 billion CNY, a year-on-year decrease of 12.6% [7] - The total profit of the mining industry was 566.11 billion CNY, a year-on-year decrease of 30.6%, while the black metal mining sector's profit was 29.50 billion CNY, a year-on-year decrease of 30.3% [7]

新华财经北京9月24日电中钢协发布2025年9月中旬重点企业钢铁产量旬报。2025年9月中旬，重点统计 钢铁企业共生产粗钢2073万吨，平均日产207.3万吨，日产环比下降0.6%；生铁1910万吨，平均日产 191.0万吨，日产环比增长0.7%；钢材2061万吨，平均日产206.1万吨，日产环比增长5.4%。 据此估算，本旬全国日产粗钢256万吨、环比下降0.6%（见图1），日产生铁229万吨、环比增长0.7%， 日产钢材417万吨、环比增长2.7%。 （文章来源：新华财经） ...

2025 年 9 月 23 日 来源: Mysteel,同花顺,国泰君安期货研究所 【宏观及行业新闻】 9月 18日钢联周度数据:产量方面,螺纹-5.48万吨,热卷+1.35万吨,五大品种合计-1.78万吨; 总库存方面,螺纹-3.58万吨,热卷+4.67万吨,五大品种合计+5.13万吨;表需方面,螺纹+11.96万吨, 热卷-4.34万吨,五大品种合计+7万吨。(数据来源:上海钢联) 2025 年 8 月，全国生产粗钢 7737 万吨、同比下降 0.7%，日产 249.58 万吨/日、环比下降 2.9%; 生 请务必阅读正文之后的免责条款部分 研 李亚飞 投资咨询从业资格号:Z0021184 liyafei2@gtht.com 金园园(联系人) 期货从业资格号: F03134630 jinyuanyuan2@gtht.com 【基本面跟踪】 螺纹钢、热轧卷板基本面数据 | | | 昨日收盘价(元/吨) | 涨跌(元/吨) | 涨跌幅 (%) | | --- | --- | --- | --- | --- | | | RB2601 | 3.185 | 27 18 | 0. 85 | | 期货 | HC2601 ...

Core Insights - National Bureau of Statistics data indicates that from January to August 2025, national coke and steel production increased year-on-year, while crude steel and pig iron production continued to decline [1] Production Data Summary - From January to August, national coke production reached 33,406 million tons, a year-on-year increase of 2.8%. In August, coke production was 4,260 million tons, up 3.9% year-on-year and 1.8% month-on-month, resulting in an average daily production of 1.37 million tons, which is a 1.8% increase month-on-month [1] - From January to August, national pig iron production totaled 57,907 million tons, a year-on-year decrease of 1.1%. In August, pig iron production was 6,979 million tons, up 1.0% year-on-year but down 1.4% month-on-month, leading to an average daily production of 2.25 million tons, a 1.4% decrease month-on-month [1] - From January to August, national crude steel production amounted to 67,181 million tons, a year-on-year decline of 2.8%. In August, crude steel production was 7,737 million tons, down 0.7% year-on-year and 2.9% month-on-month, with an average daily production of 2.5 million tons, a 2.9% decrease month-on-month [1] - From January to August, national steel production reached 98,217 million tons, a year-on-year increase of 5.5%. In August, steel production was 12,277 million tons, up 9.7% year-on-year but down 0.1% month-on-month, resulting in an average daily production of 3.96 million tons, a 0.1% decrease month-on-month [1]

Group 1 - The core viewpoint of the article highlights the production statistics of key steel enterprises in early September 2025, indicating a mixed performance in crude steel, pig iron, and steel products production [1] Group 2 - In early September 2025, key steel enterprises produced 20.87 million tons of crude steel, with an average daily output of 2.087 million tons, reflecting a month-on-month increase of 7.2% [1] - The production of pig iron reached 18.96 million tons, with an average daily output of 1.896 million tons, showing a month-on-month increase of 3.8% [1] - Steel products production totaled 19.56 million tons, with an average daily output of 1.956 million tons, indicating a month-on-month decrease of 8.5% [1] - The estimated national daily production for crude steel is 2.58 million tons, with a month-on-month increase of 6.4%, while pig iron is estimated at 228,000 tons, up 3.7%, and steel products at 406,000 tons, down 2.0% [1]

Group 1 - In August 2025, China's crude steel production was 77.37 million tons, a year-on-year decrease of 0.7% [1] - In August 2025, China's pig iron production was 69.79 million tons, a year-on-year increase of 1.0% [1] - In August 2025, China's steel product output was 122.77 million tons, a year-on-year increase of 9.7% [1] Group 2 - From January to August 2025, China's crude steel production totaled 671.81 million tons, a year-on-year decrease of 2.8% [1] - From January to August 2025, China's pig iron production totaled 579.07 million tons, a year-on-year decrease of 1.1% [1] - From January to August 2025, China's steel product output totaled 982.17 million tons, a year-on-year increase of 5.5% [1]