钢铁行业周报：供需基本面改善，钢铁市场回暖

主要观点： 报告日期：2024-04-15 ⚫钢材市场：供需基本面改善，市场稳定运行。 成本端：铁矿石和焦煤、焦炭价格环比上涨，为钢铁价格上涨提供成本支撑。 供应端：供需基本面进一步改善，库存延续较快下降态势，钢价震荡偏强。 高频数据： 1）钢材价格：Myspic综合钢价指数+2.08%，其中长材、扁平板分别+2.47%、+1.62%。螺纹钢价格为3590元/吨，环比+4.66%；热轧板卷价格3890元/吨，环比+2.37%。原材料成本：铁矿石价格为843.5元/吨，环比+12.62%；焦炭价格为2164元/吨，环比+10.38%；焦煤价格为1709元/吨，环比+16.14%。 执业证书号：S0010523120003邮箱：wangjz@hazq.com联系人：黄玺 执业证书号：S0010122060011邮箱：huangxi@hazq.com 2）产量：冷轧、热轧、线材、中厚板、螺纹产量分别为86.3（-0.76%）/321.33（-1.31%）/82.68（-2.57%）/155.94（+0.5%）/209.95（-1.26%）万吨。开工率：高炉产能利用率84.05%，环比+0.44pct；高炉开工率78.41%，环比+0.6pct；电炉产能利用率51.66%，环比-0.79pct；电炉开工率59.62%，环比-0.64pct。库存：总社库1551.92万吨，环比-3.84%；总厂库581.25万吨，环比-7.35%；螺纹社库796.39万吨，环比-5.01%；螺纹厂库282.11万吨，环比-10.92%。 ⚫投资建议 制造业需求复苏叠加碳达峰、碳中和背景，钢铁行业盈利逻辑得以重构，我们长期看好钢铁板块，推荐华菱钢铁，建议关注宝钢股份、南钢股份；产品创新推动钢铁在新兴领域应用，建议关注高端产品持续放量的久立特材、冷轧不锈钢领域的高成长性标的甬金股份。 1.钢铁周报：供需双弱格局延续，钢价反弹幅度有限2024-03-242.钢铁周报：库存仍待去化，钢价偏弱运行2024-03-093.寒潮影响下游开工，关注节后复产进度2024-02-25 ⚫风险提示 原材料价格大幅波动；地产用钢需求大幅下滑；钢材去库存化进程受阻。 正文目录 1.1本周钢铁板块走势...............................................................................................................................................................41.2各钢铁板块走势...................................................................................................................................................................4 2.1个股周涨跌幅.......................................................................................................................................................................52.2公司公告...............................................................................................................................................................................5 3.1钢厂盈利情况.......................................................................................................................................................................53.1.1钢材价格............................................................................................................................................................................53.1.2原材料供给........................................................................................................................................................................63.2钢材供应情况.......................................................................................................................................................................83.2.1库存....................................................................................................................................................................................83.2.2开工率................................................................................................................................................................................93.2.3产量..................................................................................................................................................................................10 图表目录 图表1本周钢铁板块涨幅（%）...................................................................................................................................................4图表2本周钢铁子板块涨跌幅（%）...........................................................................................................................................4图表3本周涨幅前五名（%）........................................................................................................................................................5图表4本周跌幅前五名（%）.......................................................................................................................................................5图表5公司公告概览..............................................................................................................................................................5图表6MYSPIC普钢指数（点）.......................................................................................................................................................6图表7螺纹钢期现价格（元/吨）.................................................................................................................................................6图表8板材价格（元/吨）.............................................................................................................................................................6图表9铁矿石及两焦合约价（元/吨）........................................................................................................................................7图表10铁矿石期现价格（元/吨）..............................................................................................................................................7图表11焦炭期现价格（元/吨）...................................................................................................................................................7图表12焦煤期现价格（元/吨）...................................................................................................................................................7图表13焦炭库存：国内247家钢厂（万吨）.......................................................................................