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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.
Huajin Intl (02738.HK): Ye Yating will be appointed as an independent non-executive director.
Huajin Intl (02738.HK) announced that Wu Cifei has resigned as an independent non-executive director, member of the audit committee, nomination committee, remuneration committee, and compliance committee of the company recently to develop other businesses and personal affairs. The resignation will take effect when the company's shareholder annual meeting ends on June 27, 2024. The board of directors announced that Ye Yating will be appointed as the company's independent non-executive director, member of the audit committee, nomination committee, remuneration committee, and compliance committee, effective from July 1, 2024.
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.
Most Shareholders Will Probably Find That The Compensation For Huajin International Holdings Limited's (HKG:2738) CEO Is Reasonable
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