Ma Steel shares rose 11% Credit unit gross margin increased six times times

Source: Internet
Author: User
Keywords Shares units Hong Kong dollar Chinese yuan
Ma Steel's shares rose strongly this morning, with shares rising 10.69% per cent to HK $4.97 a half-day, trading 50.02 million shares.  Credit Suisse issued a report saying the unit was stronger than the market rating, raising its target price from HK $4.5 to HK $6.2, a premium of 25% per cent. Credit Suisse means the bank has been more bullish on the Asian steel industry. It is expected that in the second half of 09, the unit gross profit of Masteel will rise from RMB 58/ton to RMB 371/ton, which is mainly driven by price increase. And said Ma Steel in this cycle of market position has been improved, compared to competitors, long profile products more specific proportion, and unique train wheel business.
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