节点：下游（终端消费/应用）位置：下游情绪：利空参考度：9/10
2025年全球粗钢产量呈现区域分化、总量收缩特征。全年总量18.494亿吨，同比下降2.0%；12月单月70国产量1.396亿吨，同比下滑3.7%，中国贡献近半产量（6818万吨）。区域表现两极分化，增长主力为中东（+13.9%）、土耳其（+18.5%）、印度（+10.1%），受益于基建扩张；非洲全年增长3.8%、北美增长0.7%，保持韧性。
显著衰退区域包括中国，单月减产10.3%、全年减产4.4%，受产能调控与需求疲软拖累；欧盟全年减产2.6%、俄罗斯Ň..
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