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Jiang Wei, Deputy Secretary of the Party Committee, Vice President and Secretary-General of the China Iron and Steel Industry Association, stated at an information release conference held in Beijing on the 29th that the overall steel production in the first quarter remained stable. Data shows that in the first quarter, the national crude steel production was 259 million tons, an increase of 0.6% year-on-year; pig iron production was 216 million tons, an increase of 0.8% year-on-year; and steel production was 359 million tons, an increase of 6.1% year-on-year. China International Capital Corporation believes that 2025 is expected to be a turning point for the Chinese steel industry. The first quarter of 2025 is expected to become a turning point for the long-term performance of the steel industry. With the deepening of industry reforms, the continuous reduction of production capacity is imperative. The supply side is expected to bring about a production contraction beyond expectations. At the same time, with the continuous promotion of the "advancing integration and restructuring to drive the exit of backward and inefficient production capacity" in the steel industry, it is expected that the redistribution of industry chain profits will continue and the steel industry will benefit from this redistribution. At present, at the valuation bottom and with the continuous redistribution of profits in the industry, it is a golden period for the steel industry.