报告行业投资评级 未提及 报告的核心观点 螺纹表需、产量均继续回落，库存延续累积态势；热卷需求大幅回暖，产量同步回升，库存小幅回落；随着淡季向旺季切换，需关注需求边际变化[1] 根据相关目录分别进行总结 厂内库存及各项数据环比情况 - 厂库+社库合计857.24万吨，环比-3.41%；社会库存419.52万吨，环比-3.50%；周消费量（未包括进出口）1095.09万吨，环比17.41%；周产量1514.61万吨，环比13.91%；合计库存843.33万吨，环比15.50% [1] - 螺纹钢厂库211.93万吨，环比-6.75%；社库166.63万吨，环比-4.71%；周产量487.23万吨，环比-4.00%；周消费量18.57万吨，环比13.86% [1] - 线材厂库84.9万吨，环比-0.49%；社库48.07万吨，环比-0.38%；周产量72.31万吨，环比0.98%；周消费量120.38万吨，环比0.60%；库存84.30万吨，环比1.53% [1] - 热卷厂库325.14万吨，环比10.90%；社库80.88万吨，环比0.90%；周产量292.44万吨，环比-1.92%；消费量373.32万吨，环比-1.02%；库存326.16万吨，环比20.80% [1] - 冷卷厂库39.14万吨，环比-0.41%；社库86.16万吨，环比84.6%；周产量178.37万吨，环比-1.56%；消费量4.17万吨，环比-1.15% [1] - 中板厂库150.67万吨，环比-5.83%；社库84.8万吨，环比1.10%；周产量103.88万吨，环比0.93%；消费量188.68万吨，环比2.03%；库存148.64万吨，环比-7.00% [1]