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The steel industry has faced downward pressure for three years; under the new cycle, calls for "production cuts" are increasing, and there is a need for "synchronous resonance" to respond to challenges and opportunities.
① The steel industry has been declining for three consecutive years, with the market experiencing a negative feedback cycle. It is expected that the apparent consumption of crude steel will be about 0.9 billion tons in 2024, and demand may continue to decline in 2025. The industry is facing various challenges and continues to move forward under pressure while actively seeking new development opportunities; ② "My Steel" predicts a 3% increase in steel for machinery in 2025, a 1.5% increase for autos, a 6.4% increase for shipbuilding, a 2.8% increase for home appliances, and a 5.5% increase for energy.
China Oriental Group Announces Key Meeting for Shareholders
Hong Kong stocks changed | Steel stocks expanded gains in the afternoon, companies with a market cap below net asset value actively maintained their market cap, institutions claim the industry is about to welcome a turning point.
Steel stocks have seen an increased rise in the afternoon. As of the time of writing, maanshan iron (00323) is up 8.62%, priced at 1.26 Hong Kong dollars; chongqing iron (01053) is up 5.26%, priced at 1 Hong Kong dollar; angang steel (00347) is up 3.55%, priced at 1.46 Hong Kong dollars; china oriental (00581) is up 2.63%, priced at 1.17 Hong Kong dollars.
Iron Ore Edges Up on Strong Steel Exports, Profit Margins -- Market Talk
China Oriental Group Logs Operating Profit of 57 Million Yuan in July-September
china oriental (00581.HK): The sales volume of self-produced steel products in the third quarter is approximately 1.7 million tons.
Glory Line 22nd November | China Oriental Group (00581.HK) announced that as of 30th September 2024, the group's self-produced steel products sales volume is approximately 1.7 million tons, with a gross profit of about 50-100 yuan per ton of self-produced steel products, and an operating surplus of approximately 57 million yuan after deducting net financial costs.