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 rose. As of the time of writing, CHONGQING IRON (01053) is up 4.21%, priced at 0.99 Hong Kong dollars; MAANSHAN IRON (00323) is up 2.92%, priced at 1.41 Hong Kong dollars; Angang Steel (00347) is up 2.65%, priced at 1.55 Hong Kong dollars.

Zhitong FinanceDec 18 10:13

The trend of steel enterprises becoming more "outward" is evident, with steel material exports exceeding 100 million tons, reaching a new eight-year high.

① Due to the continuous decline in domestic Steel Consumer volume, Steel Industry Chain enterprises have increasingly focused on overseas markets for development. This year, steel export volume exceeded 100 million tons, a new high in eight years. ② Under policy guidance, the export proportion of medium to high value-added products has increased, and the overall structure of domestic Steel exports has shifted from long products to flat products.

cls.cnDec 10 13:39

pashun int'l (00574.HK) auditor change.

Pashun Int'l (00574.HK) announced that after communicating with Zhongzheng Tianheng Accounting Firm regarding the auditor change proposal, Zhongzheng Tianheng agreed to resign as the company's auditor, effective from yesterday (the 9th). Additionally, the board of directors has resolved to appoint Fu Rui Ma Ze Accounting Firm as the new auditor of the company, effective from yesterday (the 9th), to fill the temporary vacancy created by Zhongzheng Tianheng's resignation, with a term until the company's next shareholder annual meeting.

AASTOCKSDec 10 08:44

Chongqing Iron & Steel to Discuss Key Financial Resolutions

TipRanksDec 9 21:21

The steel industry has faced downward pressure for three years; under the new cycle, calls for "production cuts" are increasing, and there is a need for "synchronous resonance" to respond to challenges and opportunities.

① The steel industry has been declining for three consecutive years, with the market experiencing a negative feedback cycle. It is expected that the apparent consumption of crude steel will be about 0.9 billion tons in 2024, and demand may continue to decline in 2025. The industry is facing various challenges and continues to move forward under pressure while actively seeking new development opportunities; ② "My Steel" predicts a 3% increase in steel for machinery in 2025, a 1.5% increase for autos, a 6.4% increase for shipbuilding, a 2.8% increase for home appliances, and a 5.5% increase for energy.

cls.cnDec 9 17:19

Chongqing Iron & Steel Announces EGM and Register Closure

TipRanksDec 6 16:37