Anshan Iron and steel 4% of the stimulus factor frustrated and China reported the loss of profits and shares

Ah shares were temporarily suspended yesterday to clarify the iron ore mine in the report of the stake in Angang, after the latest confirmation did not consider the investment in the new iron ore, H shares this morning significantly back, the share price opened 3.56% to 13 Hong Kong dollars, the deal 800,000 shares. The company and its parent company have never considered the newly discovered large mineral resources in Liaoning, and have not discussed the development or investment of the iron ore, the firm issued a clarification bulletin.　　There are also market comments saying that the large iron ore will be a potential benefit to China's steel mills, because the iron ore buried deep, low average grade, despite the rich reserves, but the high cost of mining, and from the mine to production is expected to take longer.　　At the same time, Angang also issued interim results announcement, said the decline in steel demand and the global financial crisis worsened, is expected to 1-June loss of up to 2.99 billion yuan, and last year, a profit of 5.98 billion yuan. Anshan iron and steel A shares (000898-CN) now rose 1.65% to 14.2 yuan.