Steel companies with stocks:
1. 000569 ST Changgang, 000629 Panzhihua Iron and Steel Vanadium, 000708 Daye Special Steel, 000709 Hegang Co., Ltd., 000717 Shaogang Songshan? , 000761 Benxi Iron and Steel Plate, 000778? 2. 600005 Wuhan Iron and Steel Co., Ltd., 600010 Baotou Iron and Steel Co., Ltd., 600019 Baosteel Co., Ltd., 600022 Jinan Iron and Steel Co., Ltd., 600102 Laiwu Iron and Steel Co., Ltd., 600117? Steel Co., Ltd., 600307 Jiugang Hongxing, 600357 Chengde Vanadium Titanium, etc. Extended information
Tan Qian, an analyst at Guohai Securities, said that the Beijing-Tianjin-Hebei and surrounding areas began to formally restrict production last week. Affected by the relaxation of the margin of production restrictions, the prices of different types of steel have fallen back. However, this year's production restrictions are limited to sintering, converter, blast furnace and other links. Last year, only blast furnace production was limited, and the actual increase in supply was limited.
At present, the medium-term logic of marginal improvement in overall demand, including infrastructure construction in the steel sector to make up for shortcomings, high real estate turnover demand and strong resilience, and stabilization of manufacturing investment, still holds. In addition, the micro performance is excellent. After early adjustments, the PE valuation of high-quality stocks has returned to the 3-4 times range again, and the valuation and performance match well.
At the same time, Shenwan Hongyuan Securities also reminded that the marginal impact of production restrictions has weakened, and steel prices are expected to fall back. The production restrictions in the heating season are offset by the increase in production in non-restricted areas. The output is expected to be significantly higher than last year's heating season level, and it is difficult to see a supply shortage in the fourth quarter. It is difficult for stock prices to perform after fundamentals weaken.
Reference: China Economic Net Steel Sector