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In the third quarter, the loss amount is close to the annual level of last year. How to solve the "dilemma" of the steel industry? Suggestions from the industry recommend actively reducing production.
①In the third quarter, the losses in the steel industry worsened, with 21 out of 27 listed steel smelting companies experiencing losses, totaling over 14.5 billion yuan, with the total quarterly loss amount almost approaching that of the entire previous year. ②Industry experts believe that the main reason for the losses is the overcapacity in the steel industry itself, poor industry self-discipline, failure to actively limit production, oversupply of products, continuous decline in steel prices, slow decrease in raw material prices, and severe industry profit compression.
Reorganization bullish boosts Hong Kong steel stocks! chongqing iron & steel soars nearly 38%, leading the market.
①How do institutions view the restructuring of the steel industry? ②How do institutions view the subsequent performance of the steel industry at present?
China Hanking (03788.HK): Equity in CYGNET GOLD increased to 93.37%.
On October 27, Geelong reported that China Hanking (03788.HK) announced that on October 25, 2024, Hanking Australia (through its wholly-owned subsidiary Watkins Gold) agreed to acquire at the purchase price, and Cygnet Gold's selling shareholders agreed to transfer their shares (together accounting for approximately 36.64% of Cygnet Gold's issued shares) at a total price of about 19.4 million australian dollars. After the completion of the acquisition, Hanking Australia (through its wholly-owned subsidiary Watkins Gold) will hold 56.7% of Cygnet Gold's equity.
China Hanking Boosts Stake in Cygnet Gold
China Galaxy Securities: Policy-driven stable growth, industry supply and demand are expected to marginally improve, catalyzing a rebound in steel prices.
The central meeting releases a resolute signal to stabilize growth, and steel, as a low-level pro-cyclical variety, is expected to benefit fully, with excess returns expected.
HK stock unusual movement | Steel stocks rallied at the close, positive policy changes driving expectations for improvement. Market cap management guidelines are expected to stimulate sector recovery.
Steel stocks rallied in the final trading session. As of press time, maanshan iron (00323) rose by 10.1% to HKD 1.09; angang steel (00347) rose by 8.26% to HKD 1.31; chongqing iron (01053) rose by 6.35% to HKD 0.67; china oriental (00581) rose by 5.5% to HKD 1.15.
Subdued Growth No Barrier To China Hanking Holdings Limited (HKG:3788) With Shares Advancing 42%No Data
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