STEEL Industry - HOT ! !

On Friday (22/1/2021) and next week onwards, STEEL will be the Hot topic of the Street/ Town/ Kampung ! and it will be Great !

Lets have a look on the News around the world resolving STEEL. All very Positive !

As december The Stars already forseen that STEEL STOCKs will MELETUP. https://www.thestar.com.my/business/business-news/2020/12/29/steel-stocks-roar-again 

Policy Revision of Steel Anti Dumping a HUAT news for Steel Players - https://www.klsescreener.com/v2/news/view/779627 

The largest growing market in the World, China, has been Black-Hole-ing all Steels. Their IMPORT of iron ore are up 6.5% https://www.hellenicshippingnews.com/chinas-iron-ore-imports-up-6-5-during-2020/

DEMAND - SUPPLY ANALYSIS

How will this affect steel prices ?

As you can see from the Chart from STEELBENCHMAKER, Steel Price Meletup Like Rocket with Hydro-Boost starting from December onwards. 

As demand increases, supply deminises, Steel Prices are Set to Rocket Up ! which will ultimately contribute to the BOTTOM LINE of the Steel Industry Players, to name a few;

1. LIONIND (4235)

2. MELEWAR (3778)

3. ANNJOO (6556)

Technical Analysis:

1. LIONIND (4235)

LIONIND (4235) broke out of resistance of RM0.690 and shall test next immediate Resistance of RM0.770. Above this, a new sky high will be discovered ! 

2. MELEWAR (3778)

MELEWAR (3778) triangle formation break out from RM0.480 and shall retest previous high of RM0.62. Above will then be a new high!

3. ANNJOO (6556)

ANNJOO (6556) pending Breakout from Price of RM1.55 by forming N-Shaped Breakout with higher low and convincing volume.

Conclusion:

With the positive demand of iron & steel, we opine that the steel counters should see greater days ahead. Very Positive. Which Candidate of Steel Industry Players will ascend to Rule the Iron Throne?

1. LIONIND (4235)

2. MELEWAR (3778)

3. ANNJOO (6556)

4. MYCRON (5087)

5. MASTEEL (5098)

What will you do ?

DISCLAIMER: This post serves as an educational analysis and is never meant to be a buy/sell call or recomendation. Investors must always do their own due deligence before making any investment decisions. The author of this post is not liable in any way for any decisions made by any individual.