Core Viewpoint - The steel sector is experiencing a widespread decline, with major companies like Ansteel, Maanshan Steel, and Chongqing Steel seeing significant drops in their stock prices. The outlook for the industry is expected to improve from Q3 2024 to H1 2025 due to voluntary production cuts, which may reduce the urgency for short-term anti-competitive measures [1] Industry Summary - Steel stocks have fallen sharply today, with Ansteel down 6.01% to HKD 2.19, Maanshan Steel down 3.95% to HKD 2.43, and Chongqing Steel down 3.4% to HKD 1.42 [1] - Huatai Securities anticipates that the steel industry's prosperity will improve through self-initiated production cuts from Q3 2024 to H1 2025, which may lessen the immediate need for anti-competitive policies [1] - The expectation of anti-competitive measures has led to significant increases in coking coal and iron ore prices, which have further eroded steel profits and may compel steel mills to implement anti-competitive measures [1]