Huabao Securities: Blast furnace start-up increases compared to the low demand season, steel prices downward pressure.
In July, the terminal demand for steel is still greatly affected by seasonality, and the space for supply contraction is limited. It is expected that the steel price will continue to decline in July, and the short-term profit situation of steel companies may be difficult to improve significantly.
Hong Kong stock market concept tracking: Institutions are optimistic of the steel industry's profit recovery in the second half of the year, as infrastructure projects may have concentrated efforts to complete. (Attached concept stocks)
The situation of relatively surplus raw material supply will also continue, and steel mill profits are expected to rebound due to the double bullish of demand improvement and cost reduction.
Huafu Securities: Profits hit a bottom waiting for recovery, steel prices still have support.
In 2024, there is an expected contraction in steel supply, downstream consumer demand is expected to stabilize, and the steel supply-demand relationship may be improved. Considering the positive development of steel products towards high-end and high added value direction, the industry concentration is expected to further increase, and industry profits may bottom out and recover.
Huabao Securities: With the upstream supply and demand easing and the downstream vanadium pentoxide prices rebounding, the gross margin of vanadium products is expected to improve.
Overall, the upstream supply and demand is loose, and the downstream vanadium pentoxide prices have rebounded, resulting in a widening of the price spread, which is beneficial for improving the gross margin of vanadium products. Continue to pay attention to the investment opportunities brought about by the restructuring of the supply and demand structure.
Maike Tube Industry Shareholders Unanimously Approve AGM Resolutions
Huabao Securities: The overall steel inventory removal process in April accelerated downstream demand or was supported by policies
As the release of steel mill supply gradually progressed in April, compounded by national policies to stimulate downstream demand, the overall rate of steel de-stocking accelerated in April. The improvement in profits of steel companies stimulates the enthusiasm of steel mills to produce, and it is expected that the capacity utilization rate of steel mills will continue to grow in May.
Haitong International: The PB valuation is already at the bottom of the 24Q1 domestic crude steel consumption decline sector
Judging from the PB trend in the steel sector (Shenwan) over the past 24 years, the PB valuation of the steel sector is currently in the bottom region; in global comparison, the PB valuation of A-share steel companies is in the middle. The more expensive ones are the US and Taiwan, and the valuations of European and Russian steel companies are significantly lower.
China Steel Association: In April, China's crude steel production of 85.94 million tons fell 7.2% year on year
According to the China Iron and Steel Association, data released by the National Bureau of Statistics shows that in April, crude steel production was 85.94 million tons, a year-on-year decrease of 7.2%.
China Mining Association: The cumulative production of 336.026 million tons of steel in the first quarter increased 4.4% year-on-year
On April 30, the China Mining Association announced the economic performance of the metallurgical mining industry for March 2024.
MAIKE TUBE: 2023 Annual Report
World Steel Association: In January 2024, global crude steel production was 161.2 million tons, down 4.3% year on year
On April 23, the World Steel Association announced the global crude steel production volume for March 2024.
China Steel Association: In early April, according to key statistics, the daily crude steel production of steel companies declined by 2.11,1800 tons year-on-year
On April 17, according to the China Iron and Steel Association, in early April 2024, key statistics steel companies produced a total of 21.1117,700 tons of crude steel, 19.646 million tons of pig iron, and 197532 million tons of steel.
Maike Management (01553) will pay a final dividend of HK$0.12 per share on July 8
Maike Management (01553) announced that it will be distributed on July 8, 2024 until December 31, 2023...
MAIKE TUBE To Go Ex-Dividend On June 12th, 2024 With 0.12 HKD Dividend Per Share
Maike Management (01553) will pay a final dividend of HK$0.12 per share on July 8
Maike Management (01553) announced that it will be distributed on July 8, 2024 until December 31, 2022...
Maike Management (01553.HK): Net profit of 154 million yuan increased 10.1% year-on-year in 2023
On March 22, GLONGHUI (01553.HK) announced that for the year ended December 31, 2023, the Group's total revenue was approximately RMB 2,1909 million, an increase of 4.0% over the previous year. The increase in revenue was mainly due to increased sales of spiral submerged arc welded steel pipes. The company's owners should account for approximately RMB 154 million in profit during the year, an increase of 10.1% over the previous year, with a basic profit of RMB 0.35 per share. The Board of Directors has recommended the payment of a final dividend of HK12 cents per issued common share in cash.
MAIKE TUBE: ANNOUNCEMENT OF RESULT FORTHE YEAR ENDED 31 DECEMBER 2023
China Steel Association: In early March, key statistics showed that steel companies' crude steel production of 2,058,000 tons per day fell 3.38% month-on-month
According to the China Steel Association, in early March 2024, according to key statistics, steel companies produced a total of 205.77,800 tons of crude steel, 18.4.376 million tons of pig iron, and 19.2762 million tons of steel.
Maike Management (01553.HK) will hold a board meeting on March 22 to approve the annual results
On March 11, GLONGHUI (01553.HK) issued an announcement. The board of directors will hold a board meeting on March 22, 2024 to consider and approve the Group's annual results for the year ended December 31, 2023; consider recommending the declaration of a final dividend (if any).
MAIKE TUBE: NOTICE OF BOARD MEETING
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