Steel stocks surged today (28th), with rumors circulating that China Iron & Steel Industry Association will accelerate research on capacity governance and joint restructuring. The association has already begun accelerating related research and conducting special investigations, proposing a comprehensive set of policy suggestions to promote joint restructuring and improve exit mechanisms.

Chongqing Iron & Steel (01053.HK) opened high by 1.15% and surged significantly, reaching a high of 1.39 yuan, up nearly 60%. It is currently trading at 1.28 yuan, up 47.13%, with trading volume surging to 0.19 billion shares, involving 0.233 billion yuan. Ma Steel (00323.HK) is now at 1.42 yuan, up 17.36%. An Steel (00347.HK) is now at 1.69 yuan, up 11.18%. China Oriental Group (00581.HK) is now at 1.31 yuan, up 7.38%. Tiangong Int'l (00826.HK) is now at 1.88 yuan, up 5.03%.