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Chongqing Iron & Steel (601005.SH): Currently not providing automotive steel to chongqing sokon industry group stock and Changan.
Gelonghui November 8th | Chongqing Iron & Steel (601005.SH) stated on the interactive platform that the company is not currently providing steel for chongqing sokon industry group stock and Changan for vehicles. We will continue to improve and strive to provide more and better services for enterprises in the region.
Europe steel company ArcelorMittal calls for more stringent trade measures against steel from China.
European steel merchant ArcelorMittal has called for stronger trade measures to address the influx of cheap steel imports from China, as China's supply has made the market unsustainable and European prices are far below marginal costs. China produces over 1 billion tons of steel annually, accounting for more than half of global output, but the domestic steel market in China is experiencing an oversupply situation, leading to other global markets becoming the dumping ground for China. ArcelorMittal CEO Aditya Mittal stated that the increase in steel imports is a concern for Europe and there is an urgent need to strengthen trade measures.
A quick overview: Hong Kong stock market bullish and bearish stock list for October is out! Good performance, china-affiliated brokerage stocks continue to party, haitong sec soars 79%; positive restructuring news boosts chongqing iron with a 45% surge.
The Hang Seng Tech Index has experienced a significant drop this month, with a cumulative decline of over 5%; the Hang Seng Index and the A-share Index have fallen by 3.86% and 3.27% respectively.
Hong Kong stock anomaly | chongqing iron (01053) fell nearly 7% in the final trading session, with third-quarter revenue dropping by nearly 40%, resulting in a loss of 0.661 billion yuan during the period.
Chongqing Iron (01053) fell nearly 7% at the close, as of press time, down 6.72% to HK$1.11, with a turnover of 0.122 billion Hong Kong dollars.
Chongqing Iron & Steel's Q3 Loss Widens as Revenue Falls 39%; Hong Kong Shares Slip 3%
The steel sector in A-share market surged abnormally, with inner mongolia baotou steel union hitting the limit up.
November 1st, Inner Mongolia Baotou Steel Union hit the limit up, Chongqing Iron & Steel, Shengtak New Materials, Gan Su Jiu Steel Group Hong Xing Iron & Steel Co,Ltd, Xinjiang Ba Yi Iron & Steel and others rose.
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