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Maike Tube Industry Posts Strong H1 2024 Results
Express News | Maike Tube Industry Holdings H1 Gross Profit RMB 166.8 Million
Express News | Maike Tube Industry Holdings H1 Net Income RMB 81.5 Million
MAIKE TUBE: ANNOUNCEMENT OF INTERIM RESULTSFOR THE SIX MONTHS ENDED 30 JUNE 2024
CITIC Securities: Steel prices fluctuate and seek the bottom, waiting for demand to recover.
Currently, as we approach the end of August, whether the demand will improve in the later period will be the key to whether steel prices will stop falling and rebound, given the significant reduction in production in steel mills.
Steel companies are issuing warnings about a "severe winter"! The market cap of the world's four largest iron ore miners has evaporated by over 100 billion US dollars.
Many steel companies' predictions about the severe industry outlook have made several major international iron ore suppliers, who are upstream industries, begin to have a difficult time in recent days. Since the beginning of this year, the price of this key steelmaking raw material has fallen by more than one-third. The market capitalization of the "four major" global iron ore miners has evaporated by about 100 billion US dollars in total.
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