According to Zhichun Finance APP, MAANSHAN IRON (00323) rose over 4% in the afternoon, as of publication, up 4.12%, priced at 1.77 Hong Kong dollars, with a transaction amount of 12.1615 million Hong Kong dollars.

In terms of news, MAANSHAN IRON previously issued a profit warning, estimating a loss of 4.597 billion yuan in 2024, an increase of approximately 3.27 billion yuan from the previous year. Throughout the year, the Steel Industry's normal profit margin has been severely squeezed due to factors such as market supply and demand imbalances, low steel prices, and high raw material costs, placing enormous pressure on steel companies' operations.

Zhongtai Securities pointed out that China has entered an economic transformation period, and a slowdown in steel consumption growth is inevitable. However, since China's economy is still in the development process and urbanization is not yet complete, it is not appropriate to have excessively pessimistic expectations for Real Estate or overall steel demand. Additionally, with the growth in steel usage from the manufacturing and emerging sectors, we expect that China's steel demand will maintain stability in the long term. If steel supply can continue to be reduced later on, the profits of steel mills will significantly improve.