9clubslot| CICC: Optimistic about the valuation and repair of core assets in the steel manufacturing industry

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[CICC: Optimistic about the valuation and repair of core assets in the steel manufacturing industry] Securities Times e Company News9clubslotThe CICC research report stated that the fundamentals of the steel industry have improved marginally since April: demand has shown greater resilience, while the profits of steel companies have recovered, industry supply has rebounded, and industrial chain prices have rebounded. medium-term9clubslot.9clubslot..

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[CICC: Optimistic about the valuation and repair of core assets in the steel manufacturing industry] Securities Times e Company News, CICC research report stated that the fundamentals of the steel industry have improved marginally since April: demand has shown greater resilience, and at the same time, the profits of steel companies have been restored. Industry supply has rebounded and industrial chain prices have warmed up. In the medium term, we are optimistic about the recovery of the manufacturing boom that exceeds market expectations: 1) Forward-looking indicators have improved. In April, the manufacturing PMI increased by 2.44% year-on-year to 50.4, at a record high. 2) Strong growth momentum in steel exports, March9clubslotmy country's steel exports increased by 37.9% month-on-month to 9.888 million tons. 3) Domestic equipment renewal and renovation and consumer goods replacement policies are steadily advancing, and are expected to further support manufacturing steel demand in the medium term. 4) Steel inventories have entered an active de-warehousing cycle since the Spring Festival. Currently, inventories have dropped to a low level, and the buffer between supply and demand is thinner. If steel demand recovers in the subsequent period or recovery expectations continue to strengthen, the inventory cycle is likely to enter a passive de-warehousing or active replenishment, the two form a resonance, thus promoting the rise in steel prices and the repair of steel companies 'profits.