Zhi Tong Cai Jing·2025-10-15 06:24Group 1 - Steel stocks have shown significant gains, with China Oriental Group rising by 6.67% to HKD 1.44, Maanshan Iron & Steel increasing by 6.92% to HKD 2.78, Angang Steel up by 5.96% to HKD 2.31, and Chongqing Iron & Steel rising by 2.88% to HKD 1.43 [1] - Guotai Junan Securities reports that the negative impact of real estate on steel demand has significantly weakened, with demand expected to gradually bottom out; the prolonged losses in the supply side indicate that market-driven supply clearance is beginning to occur, suggesting a gradual recovery in the steel industry's fundamentals [1] - According to Sinolink Securities, under the backdrop of anti-involution, capacity management in the steel industry is expected to strengthen through safety production inspections and curbing disorderly competition and excess capacity release; the low export ratio of ordinary steel companies makes them less affected by overseas tariffs, and demand for steel in real estate and infrastructure is expected to marginally improve under the "stabilizing growth" policy [1] Group 2 - Current profits per ton of ordinary steel are considerable, and under the "anti-involution" context, there is significant room for performance improvement for ordinary steel companies, indicating a potential value recovery and favorable allocation opportunities for the steel sector [1]