太平洋钢铁日报（20250418）工信部：行业运行总体平稳企业效益逐步改善

Investment Rating - The industry rating is Neutral, indicating that the expected overall return in the next six months will be between -5% and 5% compared to the CSI 300 index [7][11]. Core Insights - The Ministry of Industry and Information Technology reported that the steel industry is operating smoothly, with corporate profits gradually improving. In the first quarter, the operating costs of key steel enterprises decreased by 9.6% year-on-year, and the sales profit margin increased by 0.67 percentage points [6]. - The steel industry showed a mixed production trend in the first quarter, with crude steel production at 259 million tons, a slight increase of 0.6% year-on-year. The production of construction steel bars decreased by 2.9% to 48.11 million tons, while the output of specialized thick plates and coated sheets grew by over 10% [6]. Industry Data Summary - The overall performance of the steel sector on April 18, 2025, showed an increase in related stocks, with notable individual stock performances: Shougang Co. (+3.88%), CITIC Special Steel (+1.92%), and Jiuli Special Materials (+1.72%). Conversely, Honghai Technology (-3.95%), Daye Co. (-3.49%), and Shengde Xintai (-3.48%) experienced declines [4]. - Futures data indicated slight fluctuations in steel products, with rebar at 2510 (-0.03%), wire rod at 2505 (+0.48%), and hot-rolled coil at 2510 (+0.03%). Iron ore prices increased by 1.35%, while coking coal saw a rise of 0.90% [5]. - The current prices for steel products are as follows: iron ore at 715.37 yuan/ton, wire rod at 3357.41 yuan/ton, hot-rolled coil at 3182.57 yuan/ton, and rebar at 3071.09 yuan/ton [5]. Company Announcements - Baosteel Co. is acquiring a 49% stake in Maanshan Steel through cash capital increase, reducing Maanshan Steel's stake to 51%. This transaction is part of a significant restructuring initiative within the Baowu Steel Group [7]. - Baotou Steel reported a shift from profit to loss in 2024, with revenues of 68.089 billion yuan and a net loss of 42.16 million yuan. The company aims to enhance its production of high-end plates and special steel [8]. - Shougang Co. released its 2024 sustainability report, highlighting its participation in establishing ESG standards for the steel industry and achieving a significant improvement in its ESG rating [8].