〈Steel prices continue to rise as steel boom recovers〉
Benefiting from the rising prices of coal, iron and other steel raw materials, Sinosteel (2002-TW) recently announced its domestic selling price for January 2024, with an overall increase of 500-700 yuan per metric ton. After a period long consolidation in the steel industry, downstream prices The inventory level has bottomed out. Sinosteel’s moderate progress this time is to increase domestic demand and supply, while taking into account going on track orders from midstream and downstream manufacturers. Current order volume has reached a high point in the last 18 months, and demand is still thin.
With the end of the US Auto Workers Union strike and the suspension of interest rate hikes by the US Federal Reserve, the positive energy of the steel market has been transferred to Asia, and interest rates are expected to be cut next year. has strongly boosted steel prices Since October, the cumulative increase in hot-rolled ex-factory prices has reached 64%, rising US$400 per metric ton. European hot-rolled prices also increased by 12%, rising more than US $80. per metric ton China continued to expand its policy strength, and steel prices also increased for seven consecutive months Export quotations rose US$40 to US$50 per metric ton Global steel prices Prices continue to rise, and market conditions which is driving the steel industry to recover from the bottom.
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〈Steel market continues to heat up and capital flows to low-end non-electronic groups〉
The steel market has obviously recovered, and Taiwan’s steel industry has also benefited. You can get a glimpse of it from the status of export orders. China Steel is the leader, and the steel stocks of Zhonghong (2014-TW), Shin Kong Steel ( 2031). -TW), Ju Heng (2022-TW), Ronggang (5009-TW), Jinggang (1584-TW), etc. have relatively strong performance and stable chips. Electronic stocks with high base periods have taken a break from the recent gains , and money is gradually flowing into non-electronic groups with low base periods. , it is difficult to implement capital rotation. It is recommended that investors keep up with Mr. Zhilin’s unique intraday data, prepare an investment list in advance and set the price range action. You can deal with it easily only by knowing clearly how to deal with it. Loyal fans are invited not to do so during the period of shock trading. To work on your own, you can also tune in to the following latest live broadcasts for the latest market views and industry analysis.
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Article source: Analyst Chen Zhilin/Hengda Investment Consulting
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