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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.
China Hanking: Increase in Sales of Iron Ore Concentrates Supported Results >3788.HK
China Hanking Sees 1H Net CNY100.0M >3788.HK
China Hanking Expects 1H Net to Increase Substantially >3788.HK
China Hanking Holdings Expects Higher Profit in H1 2024
China Hanking (03788.HK) Yingxi: Expected half-year net profit of about 0.1 billion yuan, an increase of about 200% year-on-year.
China Hanking (03788.HK) announced on July 18th that the group expected to record an interim surplus of about RMB 1 billion in the first half of 2024, a year-on-year increase of about 200%, compared with the interim surplus of RMB 33.35 million for the six months ended June 30, 2023. The significant increase is mainly due to a year-on-year increase of about 32% in the sales volume of iron concentrate and an increase in gross profit per ton.
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