◆ Every reporter Zhang Qi

From yesterday, Maanshan Iron and Steel CWB1 began to exercise, and announced that it had entered the last round of exercise period. The exercise period was ten trading days from November 17 to November 28, 2008, after which the unexercised part would be written off.

And yesterday Masteel (600808, closing price: 4.29 yuan) The tail market rose strongly, closing up 4.63%. Among them, it rose nearly 3% five minutes before the closing, which aroused the enthusiasm of quite a number of investors to exercise their rights.

Xiao Li, a shareholder, bought 10000 shares on the last trading day of MaSteel CWB1 at a price of 0.592. At that time, he encountered quilt covers.

The share of MaSteel CWB1 reached 962 million shares, which is a small difference from the circulation of 1.195 billion shares of A shares of MaSteel. If all the holders exercise their rights, it will bring greater pressure on the stock price of the regular shares. But the strength of MaSteel's late trading yesterday boosted the determination of holders such as Xiao Li to exercise their rights.

The closing price of MaSteel CWB1 is 0.575 yuan, the exercise ratio is 1:1, and the exercise price is 3.26 yuan. The shares obtained after the successful exercise can be listed and traded on the next trading day. In a simple calculation, if the closing price of 0.575 yuan of Maanshan Iron and Steel Warrants is taken as the cost for investors to purchase the warrants, the cost of obtaining Maanshan Iron and Steel for exercising the warrants is 3.835 yuan. Based on the closing price of Maanshan Iron and Steel yesterday, the profit is nearly 12%.

Of course, the cost price of most of the CWB1 holders of Maanshan Iron and Steel Group is higher than their closing price, and the trend of future steel stocks has become their most concerned topic.

Le Yukun, an analyst in the steel industry of BOC International, told the Daily Economic News: "The rebound of steel stocks is relatively strong, mainly due to the positive impact of policies. The fundamentals of the industry have not improved significantly, and the future trend still depends on the overall market direction."

However, in any case, the exercise is the wise choice of investors, otherwise the warrant investment will be lost, and there is still the possibility of unwinding or making profits after the exercise. Yang Guoping, senior analyst of Shenyin Wanguo Derivatives, believes that: "It is the most ideal behavior for the warrant holders of Maanshan Iron and Steel Group to exercise their rights. They should not only exercise their rights, but also the sooner the better. They should exercise their rights as soon as possible and convert them into Maanshan Iron and Steel's regular shares as soon as possible, so that they can take the initiative to deal with them in the later stage."