Weekly structural research · SHH · Basic Materials

600022 Stage Analysis

Shandong Iron and Steel Company Ltd.

Week ending 2 Oct 2026Close CNY 1.31Tenure DevelopingBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Balance · Balance after decline

Directional pressure has compressed into balance.

Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base.

The Trend gate is down within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: compressed and contracting.

Direction -51−100 bearish to +100 bullish

Energy 34/100directional strength

Maturity 16/100lifecycle context

Confidence 87/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedcontracting separation

Price acceptance -50.0%position within the Activity structure

Fair Value context -7.0%CNY 1.41 · improving

Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value

Background stage key

BalanceDirection is contained.
Rotation UpStructure is turning higher.
Upward ExpansionUptrend is established.
DecelerationUptrend is losing energy.
Rotation DownStructure is turning lower.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-02	1.31	1.38	-7.47	261681022	Balance	-51	34
2026-09-25	1.28	1.39	-10.86	408991560	Balance	-54	35
2026-09-18	1.31	1.41	-9.68	384481920	Balance	-43	24
2026-09-11	1.32	1.42	-8.72	448610075	Balance	-37	21
2026-09-04	1.34	1.43	-8.56	70983090	Balance	-23	16
2026-08-28	1.37	1.44	-7.28	88832560	Downward Expansion	-23	15
2026-08-21	1.32	1.45	-9.86	90826559	Downward Expansion	-36	23
2026-08-14	1.33	1.46	-10.00	54361729	Downward Expansion	-32	24
2026-08-07	1.35	1.46	-9.35	109899907	Downward Expansion	-35	26
2026-07-31	1.39	1.47	-4.46	98531015	Downward Expansion	-41	28
2026-07-24	1.32	1.47	-9.16	89548810	Downward Expansion	-51	47
2026-07-17	1.32	1.48	-8.23	134621695	Downward Expansion	-64	61
2026-07-10	1.29	1.49	-15.81	110381589	Downward Expansion	-67	82
2026-07-03	1.27	1.49	-18.40	59829434	Downward Expansion	-71	87
2026-06-26	1.23	1.50	-20.92	64710631	Downward Expansion	-88	93
2026-06-19	1.30	1.51	-18.03	305818033	Downward Expansion	-75	88
2026-06-12	1.33	1.52	-15.19	105489267	Downward Expansion	-69	83
2026-06-05	1.32	1.53	-16.00	70980713	Downward Expansion	-75	83
2026-05-29	1.34	1.54	-15.86	387681372	Downward Expansion	-74	78
2026-05-22	1.34	1.55	-17.03	367157789	Downward Expansion	-76	73
2026-05-15	1.38	1.56	-15.29	423080910	Downward Expansion	-72	67
2026-05-08	1.45	1.57	-12.24	298923726	Downward Expansion	-62	58
2026-05-01	1.44	1.57	-11.63	332245035	Rotation Down	-64	56
2026-04-24	1.45	1.57	-10.51	469483657	Rotation Down	-38	44
2026-04-17	1.51	1.58	-6.33	465913046	Balance	-17	24
2026-04-10	1.54	1.58	-3.05	427049044	Balance	-2	19
2026-04-03	1.49	1.57	-3.72	600347097	Balance	-9	15
2026-03-27	1.53	1.57	-2.11	897708781	Upward Expansion	20	10
2026-03-20	1.54	1.58	-2.65	1331733430	Upward Expansion	40	32
2026-03-13	1.74	1.57	6.16	1138284498	Upward Expansion	67	63
2026-03-06	1.70	1.57	3.03	1014495074	Upward Expansion	63	60
2026-02-27	1.77	1.56	6.23	1606075248	Upward Expansion	78	70
2026-02-13	1.58	1.55	-3.22	685502301	Upward Expansion	50	44
2026-02-06	1.61	1.55	-1.15	801137872	Balance	49	46
2026-01-30	1.65	1.54	-0.15	1095726036	Balance	61	44
2026-01-23	1.64	1.54	-1.35	719451390	Balance	49	25
2026-01-16	1.52	1.52	-7.96	769637199	Balance	1	3
2026-01-09	1.55	1.52	-6.81	580730693	Balance	11	8
2026-01-02	1.51	1.51	-5.94	233476095	Balance	4	10
2025-12-26	1.53	1.50	-4.78	444086142	Balance	6	12
2025-12-19	1.52	1.50	-3.89	462546470	Balance	5	17
2025-12-12	1.51	1.49	-4.80	501462646	Upward Expansion	14	22
2025-12-05	1.52	1.48	-4.89	428710932	Upward Expansion	22	17
2025-11-28	1.49	1.48	-6.87	513479653	Upward Expansion	24	13
2025-11-21	1.49	1.47	-5.84	728416193	Upward Expansion	44	30
2025-11-14	1.69	1.46	2.33	699600390	Upward Expansion	75	69
2025-11-07	1.64	1.45	-0.98	545262034	Upward Expansion	66	65
2025-10-31	1.61	1.44	-2.08	600404292	Upward Expansion	61	68
2025-10-24	1.63	1.43	-1.07	575346390	Upward Expansion	69	66
2025-10-17	1.60	1.42	-0.16	780913877	Upward Expansion	63	40
2025-10-10	1.63	1.42	0.19	433138390	Deceleration	71	41
2025-10-03	1.49	1.41	-8.11	188296169	Deceleration	38	23
2025-09-26	1.47	1.41	-8.33	451105355	Upward Expansion	41	25
2025-09-19	1.55	1.40	-3.42	860778397	Upward Expansion	60	36
2025-09-12	1.53	1.40	-6.09	381902035	Upward Expansion	50	35
2025-09-05	1.48	1.39	-8.01	343266565	Upward Expansion	47	35
2025-08-29	1.51	1.39	-7.46	500804827	Upward Expansion	61	49
2025-08-22	1.55	1.39	-4.42	517160122	Upward Expansion	70	66
2025-08-15	1.50	1.38	-4.44	348466107	Upward Expansion	66	77
2025-08-08	1.55	1.38	0.25	351484565	Upward Expansion	77	87
2025-08-01	1.53	1.37	0.92	531856995	Rotation Up	77	86
2025-07-25	1.55	1.37	1.20	993379831	Rotation Up	59	74
2025-07-18	1.44	1.37	-4.42	383422900	Rotation Up	35	47
2025-07-11	1.47	1.37	-1.79	663155206	Rotation Up	41	36
2025-07-04	1.38	1.37	-6.79	580516917	Downward Expansion	-17	13
2025-06-27	1.31	1.38	-10.34	179479701	Downward Expansion	-55	40
2025-06-20	1.29	1.39	-10.13	114040207	Downward Expansion	-65	45
2025-06-13	1.30	1.40	-9.97	147619068	Downward Expansion	-61	41
2025-06-06	1.32	1.40	-8.93	153593279	Downward Expansion	-43	33
2025-05-30	1.32	1.41	-7.86	116941715	Downward Expansion	-44	32
2025-05-23	1.32	1.42	-7.92	165591688	Downward Expansion	-56	38
2025-05-16	1.32	1.42	-8.48	179590569	Downward Expansion	-58	44
2025-05-09	1.34	1.43	-6.45	144740340	Downward Expansion	-61	61
2025-05-02	1.31	1.43	-6.82	164443056	Downward Expansion	-65	75
2025-04-25	1.30	1.43	-8.06	122628700	Downward Expansion	-72	80
2025-04-18	1.30	1.44	-7.69	128593918	Downward Expansion	-75	77
2025-04-11	1.30	1.43	-6.76	347978219	Downward Expansion	-75	67
2025-04-04	1.36	1.43	-5.67	190793576	Downward Expansion	-60	50
2025-03-28	1.37	1.43	-5.40	273537034	Deceleration	-30	27
2025-03-21	1.39	1.42	-4.52	335338173	Deceleration	-24	17
2025-03-14	1.41	1.42	-4.81	270916541	Deceleration	-11	13
2025-03-07	1.41	1.41	-3.63	378155099	Deceleration	-12	13
2025-02-28	1.40	1.41	-2.94	436869905	Deceleration	-2	8
2025-02-21	1.38	1.41	-6.09	267722846	Deceleration	-9	10
2025-02-14	1.41	1.40	-3.33	344314196	Deceleration	6	9
2025-02-07	1.43	1.40	-0.97	224564896	Deceleration	6	15
2025-01-31	1.41	1.39	-0.90	59079662	Deceleration	-15	24
2025-01-24	1.40	1.38	-1.83	331989496	Deceleration	-16	25
2025-01-17	1.38	1.38	-3.04	411577361	Deceleration	3	19
2025-01-10	1.33	1.37	-4.60	430139605	Deceleration	7	16
2025-01-03	1.37	1.37	-3.26	483788150	Upward Expansion	24	14
2024-12-27	1.51	1.36	0.56	581635431	Upward Expansion	53	37
2024-12-20	1.55	1.35	4.10	779053616	Upward Expansion	54	39
2024-12-13	1.61	1.34	7.32	1617186600	Upward Expansion	62	42
2024-12-06	1.67	1.33	10.92	1166839835	Upward Expansion	73	46
2024-11-29	1.48	1.32	0.67	432333558	Upward Expansion	58	44
2024-11-22	1.48	1.32	2.37	678380432	Upward Expansion	61	51
2024-11-15	1.49	1.31	1.06	825585422	Upward Expansion	62	62
2024-11-08	1.67	1.30	9.22	1321768995	Upward Expansion	87	83
2024-11-01	1.56	1.29	7.71	1081948706	Upward Expansion	84	69
2024-10-25	1.41	1.29	-3.43	335985500	Upward Expansion	63	73
2024-10-18	1.38	1.28	-4.54	378416680	Rotation Up	59	71
2024-10-11	1.37	1.28	-4.11	582092867	Rotation Up	30	59
2024-10-04	1.50	1.28	1.06	173287766	Rotation Up	57	71
2024-09-27	1.38	1.28	0.37	368582209	Rotation Up	11	13
2024-09-20	1.23	1.28	0.78	59316376	Downward Expansion	-43	44
2024-09-13	1.22	1.28	1.04	95566322	Balance	-46	39
2024-09-06	1.21	1.29	-2.12	76300369	Balance	-47	26
2024-08-30	1.25	1.29	-1.78	89061056	Balance	-16	10
2024-08-23	1.26	1.29	-1.60	126479609	Balance	-9	15
2024-08-16	1.28	1.30	-1.04	110069924	Balance	-8	17
2024-08-09	1.30	1.30	0.94	144187494	Balance	-11	15
2024-08-02	1.30	1.30	-0.64	191613009	Deceleration	-17	15
2024-07-26	1.25	1.30	-3.99	114344599	Deceleration	-37	23
2024-07-19	1.24	1.31	-7.69	133717567	Deceleration	-41	28
2024-07-12	1.24	1.31	-7.44	148661869	Downward Expansion	-45	34
2024-07-05	1.22	1.32	-8.38	169303117	Downward Expansion	-57	43
2024-06-28	1.22	1.33	-9.01	222161835	Downward Expansion	-62	51
2024-06-21	1.21	1.33	-10.78	280065167	Downward Expansion	-68	60
2024-06-14	1.25	1.34	-9.01	291557740	Downward Expansion	-65	70
2024-06-07	1.16	1.34	-16.21	358793900	Downward Expansion	-92	90
2024-05-31	1.25	1.35	-10.98	177140476	Downward Expansion	-74	80
2024-05-24	1.24	1.36	-11.92	172124009	Downward Expansion	-83	81
2024-05-17	1.29	1.36	-10.48	213246723	Downward Expansion	-66	68
2024-05-10	1.29	1.37	-10.64	173528400	Downward Expansion	-61	53
2024-05-03	1.30	1.37	-8.68	175771647	Downward Expansion	-58	38
2024-04-26	1.32	1.38	-6.99	185747841	Downward Expansion	-52	24
2024-04-19	1.34	1.39	-5.02	308530997	Downward Expansion	-46	22
2024-04-12	1.35	1.39	-2.95	248818434	Downward Expansion	-43	22
2024-04-05	1.36	1.40	-3.86	158726961	Downward Expansion	-44	22
2024-03-29	1.33	1.40	-5.19	190386229	Downward Expansion	-49	25
2024-03-22	1.34	1.41	-4.84	267240632	Downward Expansion	-36	18
2024-03-15	1.36	1.41	-3.77	219594400	Downward Expansion	-30	14
2024-03-08	1.36	1.42	-3.61	244416230	Downward Expansion	-30	16
2024-03-01	1.36	1.42	-3.12	296898292	Downward Expansion	-36	21
2024-02-23	1.37	1.43	-1.75	312976307	Downward Expansion	-47	26
2024-02-09	1.40	1.43	5.24	562976226	Downward Expansion	-51	34
2024-02-02	1.27	1.43	0.31	331887618	Downward Expansion	-79	59
2024-01-26	1.37	1.43	1.57	332988404	Downward Expansion	-58	43
2024-01-19	1.31	1.43	-0.14	202425932	Downward Expansion	-81	68
2024-01-12	1.37	1.44	2.62	222866654	Downward Expansion	-63	61
2024-01-05	1.38	1.44	1.73	183240502	Downward Expansion	-60	65
2023-12-29	1.37	1.44	-0.58	302906644	Downward Expansion	-66	66
2023-12-22	1.36	1.44	0.66	207599901	Downward Expansion	-74	64
2023-12-15	1.39	1.45	1.85	223926417	Downward Expansion	-65	36
2023-12-08	1.41	1.45	2.36	223707024	Downward Expansion	-45	25
2023-12-01	1.43	1.45	1.65	174226764	Downward Expansion	-40	25
2023-11-24	1.44	1.46	2.02	237042447	Downward Expansion	-52	34
2023-11-17	1.41	1.46	-0.55	231354366	Downward Expansion	-57	52
2023-11-10	1.40	1.47	-0.76	159498852	Downward Expansion	-64	63
2023-11-03	1.42	1.47	0.80	162610270	Downward Expansion	-57	57
2023-10-27	1.42	1.47	1.15	240093057	Downward Expansion	-54	48
2023-10-20	1.39	1.48	0.09	134419680	Balance	-64	45
2023-10-13	1.43	1.48	-0.60	130928664	Balance	-34	20
2023-09-29	1.46	1.48	0.64	104723394	Balance	-7	6
2023-09-22	1.48	1.49	1.24	153666886	Balance	-6	5

Price vs TrendBelow-5.2%

Trend directionFalling-6.2%

Price vs current Fair ValueBelow anchor-7.0%

Fair Value directionClosing upward+3.6%

Relative Strength vs benchmarkLagging-7.5%

Relative strength directionImproving+10.9%

Price momentumNegative-12.1%

Volume balanceSupply-led0.44×

Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

-51 / ±100

-27.8 points since 2026-09-04

Energy

34 /100

+18.1 points since 2026-09-04

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

600022 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance42

Rotation Up15

Upward Expansion3

Deceleration51

Rotation Down55

Downward Expansion74

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-09-22 to 2026-10-02 · 156 classified observations out of 156 shown.

Balance 17%Rotation Up 5%Upward Expansion 22%Deceleration 11%Rotation Down 1%Downward Expansion 44%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Balance	2026-09-04	2026-10-02	Developing	-2.2%
Downward Expansion	2026-05-08	2026-08-28	Established	-5.5%
Rotation Down	2026-04-24	2026-05-01	New	-0.7%
Balance	2026-04-03	2026-04-17	New	+1.3%
Upward Expansion	2026-02-13	2026-03-27	Developing	-3.2%
Balance	2025-12-19	2026-02-06	Developing	+5.9%
Upward Expansion	2025-10-17	2025-12-12	Developing	-5.6%
Deceleration	2025-10-03	2025-10-10	New	+9.4%
Upward Expansion	2025-08-08	2025-09-26	Developing	-5.2%
Rotation Up	2025-07-11	2025-08-01	New	+4.1%
Downward Expansion	2025-04-04	2025-07-04	Established	+1.5%
Deceleration	2025-01-10	2025-03-28	Developing	+3.0%
Upward Expansion	2024-10-25	2025-01-03	Developing	-2.8%
Rotation Up	2024-09-27	2024-10-18	New	+0.0%

Classic Stage Analysis comparison

Stage 1 · Basing66

Stage 2 · Advancing0

Stage 3 · Distribution14

Stage 4 · Declining100

Legacy result: Stage 4 · Stage 4B · Declining. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus 000001.SS

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Lagging benchmark

Architecture confirmation: 88/100
Current Relative Strength: -7.47
Relative Strength direction: Improving
Price momentum: -12.1%
Excess performance vs benchmark: -11.1%
Basic Materials regime cohort: 97th percentile74 in cohort

Test 600022 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.41×

Latest completed volume relative to typical participation.

Up/down volume0.44×

Participation balance between advancing and declining observations.

Accumulation / distribution1 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+0.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+37.5%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore 600022 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 1.31falling

Slow Activity CNY 1.34falling

Trend Reference CNY 1.38-5.2% close margin

Current Fair Value CNY 1.41-7.0% close margin

Structural low CNY 1.22shock / repair context

What changes the read?

Persistent fast/slow separation and fan expansion would end Balance; direction determines whether it becomes Rotation Up or Rotation Down.

Range context +4.5%

Annualized volatility +19.3%

From structural high -28.4%

From structural low +7.4%

Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon	Samples	Median move	Positive periods	Directional follow-through	Median excess vs 000001.SS	Regime survived	Read
Near term	15	-2.6%-9.1% to +24.0%	+20.0%	+20.0%	-2.5%	+40.0%	Usable descriptive sample
Intermediate	8	-3.4%-14.8% to +28.5%	+37.5%	+37.5%	-0.7%	+12.5%	Usable descriptive sample
Extended	5	-10.1%-19.1% to +10.0%	+40.0%	+40.0%	-5.4%	+0.0%	Usable descriptive sample
Full cycle	3	-12.3%-12.6% to +19.2%	+33.3%	+33.3%	-6.9%	+0.0%	Too little matched history

Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

600022 Stage Analysis

What the Activity Line geometry says now

Directional pressure has compressed into balance.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

Directional pressure has compressed into balance.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Similar Charts

RMI Reversal Map