Zacks Investment Research Lowers Angang Steel Co. (ANGGY) to Hold

Zacks Investment Research cut shares of Angang Steel Co. (OTCMKTS:ANGGY) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Angang Steel Company Limited is engaged in the production, processing, wholesale, and retail of steel and related products. The company also involves in ferrous metal smelting, and steel pressing and processing activities. It offers steel products, such as hot rolled sheets, cold rolled sheets, galvanized steel sheets, colour coating plates, silicon steel, medium and thick plates, wire rods, microalloyed steel plates, stripe products, and heavy section and seamless steel pipes. These products are used in industries, including automobile, construction, ship-building, home electrical appliances, and railway construction, as well as in the manufacture of pipelines. The company’s activities also comprise technology consultation and service for metallurgical equipments; and import and export of products. Angang Steel Company Limited is based in Anshan City, China. “

Angang Steel (ANGGY) opened at $37.45 on Wednesday. Angang Steel has a 52 week low of $22.89 and a 52 week high of $38.02.

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