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Dahua added iron ore price cut

Source: Internet
Author: User
Keywords Shares iron ore net profit
Tags .net added cut in expressed net net profit not less stocks
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UOB issued an investment report to maintain an overweight rating for steel stocks, saying the likelihood of a bigger cut in Chinese iron ore prices has increased after Vale in Brazil said it was willing to reach an agreement with China. The bank said that while China had formally expressed its desire to receive a price reduction of not less than 40%, the bank believed it was prepared to reach an agreement within the 33-40% range. Added that a 1% per cent reduction in iron ore prices will increase the net profit of Ma Steel Shares (600808-CN) by 6.8%, which is now down 2% to 4.38 yuan, which will increase the net profit of Angang shares (000898-CN) by 1.8%, which is now down 2.1% to 11.43 yuan, which will make the Chongqing stock ( 601005-CN) 's net profit increased by 2.8% per cent, and the unit is now down 0.6% to $5.07.

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