Due to the difficult situation of the steel industry, the main steel industry suffered a loss of 1.3 billion in the first half of the year, and the price of steel fell in July to record the largest amount in the year. The Ministry of Industry and Information Technology brewing plans for the steel industry to restart the policy of “producing top-notch production†and implement full-scale steel companies that meet the requirements. Retired 17% VAT.
The Ministry of Industry and Information Technology brewing plans for the steel industry to restart the "produce for production" policy. Under this policy, approved steel enterprises are sold to processing and exporting enterprises for processing and exporting "special steel for processing and exporting" at a tax-free price, and a full refund (or exemption) of 17% value-added tax is implemented. High-end products for export are also expected to receive more targeted fiscal support.
Steel stocks have been affected by sluggish industry since the beginning of the year. The stock price has fallen sharply. It has already become a hard-hit area. Nearly half of steel stocks have fallen below their net worth.
It is worth noting that China Merchants Securities believes that low steel prices and low-cost regions are the best time to buy steel stocks. In general, in the low season of the steel industry, the performance is low, the steel price and the cost are both low. At this time, the valuation of steel stocks is the cheapest. As the demand and supply gaps reduce the supply and demand gap, the steel price will lead the cost. With the recovery, the industry’s profitability space has opened up, so the time to shift from low-cost low-cost steel to high-steel prices is the best time to buy steel stocks. Maintain the investment rating recommended by the steel industry.
The Ministry of Industry and Information Technology brewing plans for the steel industry to restart the "produce for production" policy. Under this policy, approved steel enterprises are sold to processing and exporting enterprises for processing and exporting "special steel for processing and exporting" at a tax-free price, and a full refund (or exemption) of 17% value-added tax is implemented. High-end products for export are also expected to receive more targeted fiscal support.
Steel stocks have been affected by sluggish industry since the beginning of the year. The stock price has fallen sharply. It has already become a hard-hit area. Nearly half of steel stocks have fallen below their net worth.
It is worth noting that China Merchants Securities believes that low steel prices and low-cost regions are the best time to buy steel stocks. In general, in the low season of the steel industry, the performance is low, the steel price and the cost are both low. At this time, the valuation of steel stocks is the cheapest. As the demand and supply gaps reduce the supply and demand gap, the steel price will lead the cost. With the recovery, the industry’s profitability space has opened up, so the time to shift from low-cost low-cost steel to high-steel prices is the best time to buy steel stocks. Maintain the investment rating recommended by the steel industry.
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