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China Steel: Performance decline, but the stock market rise
Although the steel stocks are leading A shares, but the fact is - China's iron and steel industry is still in a turning period, industry profits fell to the lowest point in 7 years.
As the economic support industry China's iron and steel, is still creating a miracle. After half of the global steel export from China scared the market, Chinese iron and steel stocks are also performance fantastic.
The industry index shows, including steel 28 iron and steel enterprises prices index, China this year has risen to 76%, far more than the Shanghai Composite Index 41%.
For the current demand for the steel industry downstream market, “the overall is still weak”. China's iron and steel industry is overcapacity, coupled with the largest share of real estate is cooling down, China's steel production for the first time to shrink since 25 years. In the first five months of 2015, China's steel demand fell by 4% year on year, while output fell by 1.6%.
As the Chinese steel demand mentioned above, the different judgment of the steel industry itself is not only affected the development trend, as the main raw material of iron and steel production of iron ore is also deeply affected. Although now iron ore prices rebounded strongly, but at the end of last month, Citigroup analysts based on China's steel demand growth to see top judge, slash and long-term iron ore price amounted to 32%.
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