HK Stock Market Move | Some steel stocks rose in the afternoon. 45 leading steel enterprises jointly launched a self-discipline initiative, calling for strict implementation of production control.

Some steel stocks rose in the afternoon. As of press time, HANKING GOLD (03788) rose 3.18% to HK$3.24; CHONGQING IRON (01053) rose 1.78% to HK$0.86; MAANSHAN IRON (00323) rose 1.15% to HK$1.755; Angang Steel (00347) rose 0.44% to HK$1.145. On the news front, on September 15, the China Iron and Steel Association issued an initiative for the steel industry to comprehensively carry out self-disciplined production control and inventory reduction, proposing strict implementation of output regulation, adherence to self-disciplined production control and inventory reduction, and giving full play to the role of the industry's price supervisors. The initiative was jointly launched by 45 steel enterprises, including China Baowu, Ansteel Group, HBIS Group, and Shougang Group, and directly targets the current industry dilemma of "strong supply, weak demand, low prices, and weak profits." Industry insiders pointed out that this joint self-discipline initiative by 45 leading steel enterprises is an important measure for the industry to actively save itself and self-regulate. By unifying the industry's operating pace, strictly controlling disorderly production increases, reducing inventory pressure, and regulating market competition, it can effectively alleviate the mismatch between supply and demand, stabilize market expectations, and lay a solid foundation for the steel industry to stabilize and recover and achieve high-quality sustainable development.