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Maanshan Iron & Steel upgraded to Buy from Hold at HSBC

HSBC analyst Howard Lau upgraded Maanshan Iron & Steel to Buy from Hold with a price target of Rmb 3.20, up from Rmb 3. Expectation of steel supply control in China is low, and any production cut in the coming months could trigger a re-rating of the shares, the analyst tells investors in a research note.

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