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China Galaxy Securities: Medium to long-term conflicts in Steel supply and demand are intensifying, accelerating the supply-side reform in the Steel Industry.
Short-term imported iron ore may run weakly, potentially leading to a reduction in raw material costs, which is Bullish for domestic Steel companies. In the medium to long term, mainstream mines may also adjust their supply strategy under the changing landscape, increasing uncertainty in iron ore prices.
Latest assessment from Citigroup on the Steel Industry: Under the "pressure test" of tariffs, why have these two steel companies become the "first choice"?
Citi released the latest assessment report on the Steel Industry.
Hong Kong stock Concept tracking | Supply-side reform adjusts Steel supply, market focuses on the implementation status of domestic production restrictions (with related stocks)
Citi published a report on China's resource industry, stating that the announced tariffs by the USA have little impact on the Steel-related sub-industries.
IRC's 2024 Attributable Loss Narrows 87%
IRC (01029.HK): The shareholders' loss for the fiscal year 2024 decreased to 20.5 million US dollars.
Gelonghui, March 26 | IRC (01029.HK) announced that for the year ending December 31, 2024, revenue decreased by 12.6% to 0.2212 billion USD, primarily due to ore quality issues in the first half of 2024; cash cost was 86.0 USD per ton, which is 9.0% higher than last year, mainly due to the introduction of temporary export tariffs and inflation; Shareholder's losses decreased to 20.5 million USD (2023: 0.1568 billion USD), with no impairment provision in 2024 (2023: impairment of 0.1639 billion USD); after the completion of the rights issue, cash and deposit balances increased.
Express News | IRC FY Revenue USD 221.2 Million
