1月19日下午，人民日报记者前往包钢板材厂进行实地探访，当地夜间最低气温超过零下30摄氏度，冷风呼啸。在现场，记者拿出近乎满格的手机，拍照录 视频几分钟后，手机就被冻得近乎没电，手指也冻得发僵，可想而知救援队伍救援条件之恶劣。 在事故现场可以看到，来自消防、应急、公安、医疗等多支专业救援队伍仍在如此寒冷的天气下，紧张开展排险救援工作，与时间赛跑。目前共有1192人参 与救援。 图为1月19日下午，厂区内救援队伍帐篷。记者 吴勇摄 图为1月19日下午，来自消防、应急、公安、医疗等多支专业救援队伍仍在紧张开展排险救援工作。记者 吴勇摄 图为1月19日下午，现场救援队伍。记者 张枨摄 在厂区内，可见多处建筑受爆炸冲击严重受损，部分厂房结构变形，窗户玻璃大面积碎裂。为了保障安全，大片区域已拉起警戒带进行隔离，非救援人员禁 止进入。空气中仍可闻到一丝刺鼻的气味，地面散落着砖石、金属碎片等杂物。 图为1月19日下午，现场救援队伍。记者 张枨摄 在现场参与救援的包头市消防救援支队灭火救援高级工程师郝海冰介绍，1月18日下午，包头市消防救援支队指挥中心接到报警后，立即调派了26辆消防 车、124名指战员，3头搜救犬赶赴现场处 ...

Group 1 - The explosion incident at Baosteel's plate factory in Inner Mongolia has resulted in 2 fatalities, 8 missing persons, and 84 injuries as of January 19 [1][2] - The Inner Mongolia Autonomous Region's Party Committee and government have taken the incident seriously, establishing an investigation team led by the Deputy Secretary of the Party Committee and the Chairman of the Regional Government [1] - The State Council's Work Safety Committee has decided to supervise the investigation of this incident [1]

Core Viewpoint - A significant explosion occurred at the Baogang Steel Plant, resulting in multiple casualties and extensive rescue operations involving over a thousand personnel [1][2]. Group 1: Incident Overview - The explosion took place on the 18th at 15:03, involving a 650 cubic meter saturated water and steam tank, leading to 6 fatalities, 4 missing persons, and 84 injuries [1]. - Rescue operations are ongoing, with teams utilizing various methods, including drones and search dogs, to locate potential survivors [2][4]. Group 2: Rescue Operations - Despite harsh weather conditions, rescue teams are actively excavating and searching through debris, employing gas detectors and other equipment to ensure safety and prevent secondary disasters [2]. - The rescue efforts are organized into multiple teams, focusing on a grid-based approach to cover the entire area systematically [2]. Group 3: Medical Response - Medical resources in Baotou are being coordinated to provide targeted treatment for the injured, with a focus on individual care plans and psychological support [3]. - Among the 84 injured, 5 are in critical condition, while the rest have sustained lighter injuries, and all are reported to have stable vital signs [2][3].

Group 1 - The core incident involves an explosion at a 650 cubic meter saturated water and steam tank in the steelmaking department of Baosteel's subsidiary in Inner Mongolia [1] - The explosion has resulted in 6 confirmed deaths and 4 individuals reported missing as of the latest updates [1] - Emergency rescue operations are currently ongoing at the site of the explosion [1]

Core Viewpoint - The explosion at Baosteel's steelmaking department has resulted in significant casualties and ongoing rescue efforts, highlighting safety concerns in the industry [1] Group 1: Incident Details - As of January 19, the explosion has caused 4 fatalities, 6 individuals are missing, and 84 people have been injured [1] - The explosion occurred on January 18 at 15:03, involving a 650 cubic meter saturated water and steam tank [1] Group 2: Response and Investigation - The Inner Mongolia Autonomous Region's government has taken the incident seriously, forming an investigation team led by the Deputy Secretary of the Party Committee and the Chairman of the Regional Government [1] - The investigation team includes members from relevant departments, Baotou city officials, and experts, and has already begun work at the site [1]

Core Points - A major production safety accident occurred at Inner Mongolia Baotou Steel Rare Earth Plate Co., resulting in 5 fatalities, 5 missing persons, and 84 injuries [1] - The State Council's Safety Production Committee has decided to supervise the investigation of this significant accident [1] - The local government is required to conduct a thorough investigation to determine the cause of the accident and propose handling opinions according to relevant laws and regulations [1] Summary by Sections - **Accident Details** - The incident involved a pressure vessel explosion on January 18, 2026, at a steel company in Baotou, Inner Mongolia [1] - **Government Response** - The State Council's Safety Production Committee will oversee the investigation process as per the Major Accident Investigation and Supervision Measures [1] - The local government must report the investigation findings to the State Council's Safety Production Committee for approval before concluding the case [1] - **Regulatory Requirements** - The investigation must adhere to the Production Safety Accident Reporting and Investigation Regulations and other relevant laws [1]

Core Viewpoint - The State Council's Work Safety Committee has decided to supervise the investigation of a major production safety accident at Baogang Group, where an explosion occurred, resulting in casualties and injuries [1] Group 1: Accident Details - On January 18, 2026, an explosion occurred at Inner Mongolia Baogang Rare Earth Steel Plate Co., Ltd., leading to 5 fatalities, 5 individuals missing, and 84 injuries [1] - The accident involved a pressure vessel explosion, highlighting significant safety concerns within the production facility [1] Group 2: Government Response - The State Council's Work Safety Committee has issued a notice to supervise the investigation of the accident, emphasizing the need for a thorough inquiry into the causes [1] - The local government is required to conduct the investigation in accordance with relevant laws and regulations, and to submit the accident investigation report for approval before public disclosure [1] - The report and the implementation of the accident handling decisions must be submitted to the State Council's Work Safety Committee for record-keeping after the case is closed [1]

Core Viewpoint - An explosion occurred at Baogang Steel's subsidiary, Inner Mongolia Baogang Steel Plate Factory, resulting in casualties and injuries, raising concerns about safety and operational integrity within the company [1][5][9]. Group 1: Incident Details - The explosion happened on January 18, causing 4 fatalities, 6 missing persons, and 84 injuries, with ongoing rescue efforts [1][3]. - A large steam ball tank, crucial for the steel production process, exploded due to suspected excessive steam pressure or potential equipment aging issues [5][6]. - The explosion's impact was felt up to 5 kilometers away, damaging nearby properties and disrupting train services [4][9]. Group 2: Company Background - Baogang Steel, established in 1954, is a major player in China's steel industry, with total assets exceeding 220 billion yuan and over 51,000 employees [7]. - The steel plate business is vital for Baogang, contributing 34.43 billion yuan in revenue in 2024, representing a significant portion of the company's total income [8]. Group 3: Safety Record and Financial Impact - The company has a troubling safety record, with 20 reported accidents from 2016 to 2022, resulting in 28 deaths, indicating systemic safety management issues [8]. - Following the explosion, Baogang's stock price dropped by 5.20%, leading to a market value loss of approximately 5.9 billion yuan [9].

Core Viewpoint - The explosion at Baogang Steel's subsidiary, Baogang Steel Plate Factory, resulted in significant casualties and injuries, raising concerns about safety practices and equipment maintenance within the company [4][22]. Group 1: Incident Overview - An explosion occurred at the Baogang Steel Plate Factory, leading to 4 fatalities, 6 missing persons, and 84 injuries, with ongoing rescue efforts [4][22]. - The explosion was caused by a steam ball tank, which is a critical component in the steel production process, failing due to excessive internal pressure or potential equipment aging [5][14]. Group 2: Company Background - Baogang Steel, established in 1954, has evolved into a major industrial group with total assets exceeding 220 billion yuan and employing over 51,000 staff [19][20]. - The steel plate business is vital for Baogang Steel, contributing 34.43 billion yuan in revenue in 2024, representing a significant portion of the company's total income [22]. Group 3: Safety Record and Concerns - The company has a troubling safety record, with 20 reported safety incidents from 2016 to 2022, resulting in 28 deaths, and a lack of systematic analysis of these incidents [22][23]. - Just days before the explosion, Baogang's safety committee emphasized the need for enhanced safety measures, highlighting ongoing risks within the organization [23]. Group 4: Market Impact - Following the explosion, Baogang Steel's stock opened at a limit down, closing with a 5.20% decline, resulting in a market value loss of approximately 5.9 billion yuan [23][24].

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Insights - Demand is expected to gradually stabilize, while supply-side constraints are anticipated to continue, leading to a potential recovery in the steel industry's fundamentals [3][4]. - The report highlights that despite a long period of micro-profitability in the industry, market-driven supply adjustments have begun, and if supply policies are implemented, the pace of supply contraction may accelerate [3][4]. Summary by Sections Steel Market Overview - The apparent consumption of the five major steel products was 8.2612 million tons, a decrease of 1.77% week-on-week but an increase of 4.33% year-on-year [6]. - The total steel inventory was 12.47 million tons, down 0.55% week-on-week, maintaining a low level [6]. - The average profit margin for rebar was 199.4 CNY/ton, down 15.2 CNY/ton from the previous week [6]. Production and Capacity Utilization - The production of five major steel products was 8.192 million tons, a slight increase of 0.08% week-on-week [6]. - The operating rate of blast furnaces in 247 steel mills was 78.84%, down 0.47 percentage points from the previous week [6][29]. - The capacity utilization rate for these mills was 85.48%, down 0.56 percentage points week-on-week [6][29]. Raw Material Prices - Iron ore spot prices remained unchanged, while futures prices decreased by 0.31% to 812 CNY/ton [48]. - The port inventory of iron ore rose to 165.55 million tons, an increase of 1.72% [52]. - The total shipment volume from major iron ore producers decreased, with Brazil's shipments down 7.37% and Australia's down 2.29% [53][61]. Recommendations - The report recommends focusing on companies with leading technology and product structures, such as Baosteel and Hesteel, as well as those with competitive advantages like CITIC Special Steel and Yongjin Materials [6].