2022年5月，我国钢铁行业主要运行指标具体呈现以下特点：投资方面，行业固定资产投资累计增速放缓、低位运行。生产方面，全国生铁、粗钢和钢材累计产量同比下降，但降幅均有所收窄。需求方面，钢材累计表观消费量延续同比下降走势。库存方面，建筑用钢库存下降明显，带动国内钢材社会库存水平有所下降。价格方面，钢材综合价格指数震荡下行。进出口方面，钢材累计出口量、进口量同比下降，其中出口降幅收窄，进口降幅扩大。经营方面，钢铁行业累计营业收入、累计利润总额呈同比下降态势，且降幅均有所扩大。

Nichrome alloys are used for architectural purposes such as lead for water pipes, roofing, and windows. Stainless steel is expensive and is used as the primarily metal ,where potential for corrosion is high. An extensive use of stainless steel was for the construction of the Chrysler Building. Nichrome is used in gears, drive shafts, special vehicles for low temperature, or high wear uses. It is also used in special engineering uses. Nichcrome alloys are mainly used for electric resistance heating. They are highly electric-resistant, have good strength and ductility at operating temperatures, etc. These properties make them suitable for use in electronic appliances. Nichrome alloys are corrosion-resistant. The anti-corrosive degree of this steel is determined by the surface condition of the metal as well as by the composition, temperature, and concentration of the corrosive agent. The corrosion-resistant steel is mostly used in aircraft construction which has 18% chromium and 8% nickel content.

Establishments described in this report are primarily participating in the weathering steel market. Weathering steel, often referred to by the genericised trademark COR-TEN steel and sometimes written without the hyphen as corten steel, is a group of steel alloys which were developed to eliminate the need for painting, and form a stable rust-like appearance after several years' exposure to weather.

能耗双控叠加环保管控趋严，钢铁供给预期将持续收缩。21年钢企生产受能耗双控和供电紧缺影响，产能利用率持续下行，产量明显回落，全年同比下降3%；同时22年Q1华北地区限产较严，供给明显收缩。在“碳达峰、碳中和”远景目标下，钢铁去产量将成为中长期趋势，预计2022年全国粗钢产量同比降低2.13%。

5 月需求边际改善：结合产量和库存数据测算的5 月钢铁需求同比增速为-12.3%， 较2021 年5 月增速放缓13.6%，较2022 年4 月提高5.6%。钢材净出口同比增速 71%，内需增速为-15.6%。下游地产数据低位回暖，销售、新开工、投资单月同比 为-31.8%、-41.8%、-7.8%。基建投资同环比均实现正增。5 月份工业增加值回到 同比正增区间，同比+0.7%。具体来看，各细分领域同比增速均有不同程度改善。 整体上地产下行仍是主基调，在此背景下，需求小幅的边际改善并未对钢价起到明 显的提振作用。

展望2022H2：经历疫情扰动之后，全球电动化增长曲线将更加陡峭，供需矛盾将愈发凸显，看好能源金属的持续溢价。碳中和将促全球能源体系重塑，在经历了2021 年从0 到1 的关键一步之后，未来电动化增长曲线将更加陡峭。下游更大量级的需求增长与上游资本开支滞后的矛盾将愈发凸显，资源稀缺性逻辑继续强化，我们继续看好能源金属有望走出长牛。

下半年钢材供需有望改善，成本压力逐步缓解。上半年由于下游需求不及预期且上游原料供给受限，钢厂利润持续压缩，钢铁板块回落。展望下半年，“双碳“大背景下，2022 年将继续压减粗钢产量，钢材供给持续受到约束；需求端伴随“稳增长“政策推进，疫情影响消退，下半年大概率回暖，叠加原料端供给持续恢复，钢厂正度过2022 年最困难的时刻，下半年利润有望明显回升。

废钢铁回收利用对于我国钢铁工业降低铁矿石对外依赖、加快绿色低碳转型具有重大意义。近年来，我国废钢铁资源规模不断扩大、利用水平持续提升、加工配送体系初具规模、行业标准化水平不断提高，发展前景整体向好。同时，我国废钢铁利用水平仍然偏低、废钢铁产业整体税负偏高、准入企业废钢铁加工能力不足。一方面，相关部门应继续加大政策支持力度，提升废钢铁资源战略地位；另一方面，应着力解决废钢铁产业税负问题，鼓励企业做大做强。