Container manufacturers rise again in early trading. As of press time, Singamas Cont (00716) rose 9.64% to HKD 0.91; China International Marine Containers (02039) rose 4.32% to HKD 7.49; Cosco Shipping Development (02866) rose 3.67% to HKD 1.13.
According to the Zhixun Finance app, container manufacturers rose again in early trading. As of press time, Singamas Cont (00716) rose 9.64% to HKD 0.91; China International Marine Containers (02039) rose 4.32% to HKD 7.49; Cosco Shipping Development (02866) rose 3.67% to HKD 1.13.
China Post Securities pointed out that the container industry has a more obvious cyclical nature. After experiencing a downward cycle for nearly 3 years, it is expected that there will be a turning point in the cycle in 2024. The industry pointed out that the de-stocking in the United States is approaching the end, which is expected to bring upward demand for global trade; China's monthly container production data has been year-on-year positive for several months; the rising shipping index indirectly confirms downstream prosperity.
In addition, Soochow Securities pointed out that the gross margin of container manufacturing is greatly affected by economies of scale and raw material prices, with steel accounting for about 50% of the manufacturing cost of containers. Under the low and fluctuating trend of steel prices, the price of containers has increased, and manufacturers can anticipate further repairs to their profits under the effect of economies of scale.