The Zhitong Finance App learned that Morgan Stanley released a research report saying that it is believed that the stock price of Shougang Resources (00639) will rise within 60 days, with a probability of occurrence of more than 80%. The bank gave the company a target price of HK$3.79, and the rating “increased its holdings”.

The bank expects domestic coking coal prices to rise in the near future because of a major accident at the Sanjiaoshu Coal Mine in Guizhou, which has an annual production capacity of 3.1 million tons, which is owned by Panjiang Co., Ltd. (600395.SH), was discontinued after a major accident occurred on September 24. According to the announcement, the company has carried out a mine inspection, which the bank believes will cause production to be interrupted. However, the bank's investigation of local producers showed that all coal mines in the district had suspended operations.