Research report text
【Business factor】
As of November 17, a total of 3,459 major projects have been started in Zhejiang, Hubei and other places, with a total investment of more than 2.4 trillion yuan. The projects involve infrastructure, advanced manufacturing, ecological environmental protection and other fields.
Industry insiders said that with the continuous availability of fiscal and financial instrument funds, the accelerated implementation of major projects, and the booming investment in infrastructure construction, economic growth will continue to be stimulated and provide strong support for maintaining a reasonable economic growth throughout the year.
This week, the thread inventory and the total steel inventory continued to decline month-on-month, of which the decline in thread inventory slowed down slightly, and the decline in steel inventory expanded. From the perspective of the supply side, both thread and steel production this week saw a month-on-month decline, and the weekly thread output fell to 2.9 million tons.
【Bad factors】
From January to October, the year-on-year decline in real estate development investment continued to expand, and the newly started area and construction area, which are closely related to steel consumption, continued to decline year-on-year. Real estate performance remains weak. Entering November, there may be shutdowns in some parts of the north. On the previous trading day, 237 mainstream traders across the country sold 135,500 tons of building materials.
【Variety view】
The stimulus effect of multiple favorable policies for the real estate industry remains to be seen. Downstream demand remains at a normal level and remains resilient. The high level of the supply side has fallen, and some cities have launched temporary emergency response to heavily polluted weather. The output has decreased to a certain extent. The pattern of both supply and demand is weak.
【Operation Suggestions】
The range fluctuated, and the low price in May was cautiously held.
【Risk factors】
Demand changes; environmental protection limits production; cost changes.
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