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Steel stocks generally rose, with MAANSHAN IRON (00323) increasing by 8.76%. Institutions indicated that bullish macroeconomic factors have strengthened, providing support for steel prices.
Golden Financial News | Steel stocks rose across the board, with MAANSHAN IRON (00323) up 8.76%, CHONGQING IRON (01053) up 2.35%, and Angang Steel (00347) up 1.42%. Minsheng Securities stated that the old-for-new policy continues, and demand expectations are likely to boost. This week, the central bank held a routine meeting for the fourth quarter, increasing financial support for large-scale equipment updates and the old-for-new of consumer goods, enhancing efforts to revitalize existing commodity housing and existing land, promoting the stabilization of the real estate market. The National Development and Reform Commission indicated that this year will see an increase in the issuance of ultra-long special bonds, providing greater support for "dual-heavy" construction and enhancing construction efforts.
Some Confidence Is Lacking In Chongqing Iron & Steel Company Limited's (HKG:1053) P/S
Chongqing Iron & Steel's Strategic Share Repurchase
Hong Kong stocks movement | Some Steel stocks rise, the Steel Sector has a high proportion of undervalued stocks, and under Market Cap management, the valuation level is expected to recover.
Steel stocks have risen. As of the time of this report, CHONGQING IRON (01053) is up 4.21%, quoted at 0.99 Hong Kong dollars; MAANSHAN IRON (00323) is up 2.92%, quoted at 1.41 Hong Kong dollars; Angang Steel (00347) is up 2.65%, quoted at 1.55 Hong Kong dollars.
The trend of steel companies becoming more "outward" is significant, with steel exports exceeding 100 million tons, setting an eight-year record high.
① Due to the continuous decline in domestic Steel consumption, companies in the Steel Industry Chain are focusing on overseas markets as a key area for development. This year, steel exports exceeded 100 million tons, reaching a new high in eight years. ② Under policy guidance, the proportion of exports of medium to high value-added products has increased, showing a trend of change in the overall structure of domestic Steel exports from long products to flat products.
Chongqing Iron & Steel to Discuss Key Financial Resolutions
Many Still Looking Away From Chongqing Iron & Steel Company Limited (HKG:1053)
