Anshan Iron and Steel company shares higher 5% credit unit gross margin rose eight times times
Source: Internet
Author: User
KeywordsSteel Hong Kong dollar RMB Angang
The shares of Anshan Iron and steel, which has risen nearly 20% per cent in five trading days, continued to be notable for trading in the morning, with shares now rising 4.5% to HK $13.48 and 398,000 shares. Credit Suisse issued a report saying it was better to maintain the unit than the big city rating and lifted its target price from HK $12.5 to nearly 40% to HK $17.1, a premium of 27% per cent. Credit Suisse means that steel prices and stock valuations are expected to rise in the second half of 2009, with valuations expected to reach cyclical (normal) levels, and that Angang's unit gross margin will be raised from RMB 80/ton to 640 yuan/ton in the first half of 2009, driven mainly by price increases. And Angang, the most liquid Chinese steel unit in the Hong Kong stock market, is often seen as a better tool for investing in China's steel industry.
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