节点：上游（原材料/资源端）位置：上游情绪：利空参考度：10/10
谢韦尔钢铁（Severstal）宣布2026年预算调整，因钢铁需求下滑31%。公司计划削减资本支出24%、维修资金14%以维持财务稳定；此外将冻结招聘、推迟此前宣布的工资指数化，同时推进铁矿石球团厂等核心战略项目。
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