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Express News | China Vanadium Titano Magnetite Mining - Served Legal Demand Letter Against Huili Caitong and Xiushuihe Mining; and Chengyu Vanadium Titano
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Changes in Hong Kong stocks | Steel stocks fell in the afternoon, crude steel production fell 7.2% year on year in April, apparent domestic consumption of crude steel declined in the first quarter
Steel stocks declined in the afternoon. As of press release, China Iron and Steel (00893) fell 18.87% to HK$0.086; Chongqing Iron and Steel (01053) fell 4.35% to HK$0.66; Angang Steel (00347) fell 3.33% to HK$1.45; and Ma On Shan Steel (00323) fell 3.15% to HK$1.23.
Huabao Securities: The overall steel inventory removal process in April accelerated downstream demand or was supported by policies
As the release of steel mill supply gradually progressed in April, compounded by national policies to stimulate downstream demand, the overall rate of steel de-stocking accelerated in April. The improvement in profits of steel companies stimulates the enthusiasm of steel mills to produce, and it is expected that the capacity utilization rate of steel mills will continue to grow in May.
Haitong International: The PB valuation is already at the bottom of the 24Q1 domestic crude steel consumption decline sector
Judging from the PB trend in the steel sector (Shenwan) over the past 24 years, the PB valuation of the steel sector is currently in the bottom region; in global comparison, the PB valuation of A-share steel companies is in the middle. The more expensive ones are the US and Taiwan, and the valuations of European and Russian steel companies are significantly lower.
China Steel Association: In April, China's crude steel production of 85.94 million tons fell 7.2% year on year
According to the China Iron and Steel Association, data released by the National Bureau of Statistics shows that in April, crude steel production was 85.94 million tons, a year-on-year decrease of 7.2%.
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