China'S Steel Stocks Or Pressure Industry Associations Have Limited Space To Raise Their Steel Prices.
Hongkong time 0830 (Dow Jones) - China Iron and Steel Industry Association expects that steel prices will rise in the second half of this year with limited space and the expected or unfavorable trend of steel stocks.
A press release released on Friday by China Steel Association said that steel prices in the domestic market will continue to operate at high levels in the second half of the year, but the space for the rise will be significantly compressed. We should pay attention to prevent fluctuations in prices due to changes in supply and demand.
China Steel Association also pointed out that in the first half of this year, iron and steel enterprises realized profit growth, while loss making enterprises and losses increased.
China Steel Association warned that the operation of the steel industry in the second half of this year may face more difficulties.
Iron and steel stocks were mixed on Friday. Maanshan Iron and Steel Group (600808) fell 3.14%, while the Guangzhou Iron and Steel Group (600894) rose 1.83%.
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