Changes in Hong Kong stocks | Steel stocks have declined across the board, and the steel export license management agency is optimistic that long-term industry supply and demand will improve

The Zhitong Finance App learned that steel stocks fell across the board. As of press release, Angang Steel (00347) fell 3.72% to HK$1.81; Ma On Shan Steel (00323) fell 2.53% to HK$2.31; and Chongqing Iron & Steel (01053) fell 2.52% to HK$1.16.

According to the news, on December 12, the Ministry of Commerce and the General Administration of Customs announced the implementation of export license management for some steel products. The announcement will take effect on January 1, '26. The steel product catalogue included in the export license management includes 300 products, covering some products such as stainless steel and oriented silicon electric steel. Orient Securities said that the release of this new policy marks a new stage in domestic steel export management, and the export structure may be optimized and upgraded.

Changjiang Securities, on the other hand, said that the implementation of export license management for steel may form an export pulse in the short term. Supply and demand will be pressured in stages at the beginning of next year, which will benefit the development of the industry in the medium to long term. In the long run, the implementation of export license management is expected to hurt demand for raw materials, especially iron ore, which has captured the vast majority of profits in the industrial chain. Furthermore, those that are unable to pay for exports will only clear their fate, and supply and demand in the steel industry are expected to improve.