观点聚焦投资建议我们认为2026 年行业仍处于需求减量调结构的趋势中,供需及盈利难见大幅改善,但反内卷下格局变革带来的结构性行情值得重视,聚焦两条主线:1)差异化产量管控有望推进,绿色转型领先、被低估的优质现金流资产有望迎来盈利复苏与价值重估,重点推荐华菱钢铁。2)高端钢铁材料迎来国产替代加速拐点,利好具备高成长确定性的特钢龙头,重点推荐工模具钢龙头天工国际。理由黑色系价格向下探寻新均衡。2026...
Source Link观点聚焦投资建议我们认为2026 年行业仍处于需求减量调结构的趋势中,供需及盈利难见大幅改善,但反内卷下格局变革带来的结构性行情值得重视,聚焦两条主线:1)差异化产量管控有望推进,绿色转型领先、被低估的优质现金流资产有望迎来盈利复苏与价值重估,重点推荐华菱钢铁。2)高端钢铁材料迎来国产替代加速拐点,利好具备高成长确定性的特钢龙头,重点推荐工模具钢龙头天工国际。理由黑色系价格向下探寻新均衡。2026...
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