Koon Yew Yin's Blog
US bipartisan approved US$ 1 trillion bill for infrastructure construction - Koon Yew Yin
Koon Yew Yin
Publish date: Fri, 13 Aug 2021, 09:08 AM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
China has been the biggest steel producer and exporter in the world. Currently, China wants to improve its air quality and environment. China is now producing just enough steel for its own use and stopped exporting steel. As a result, the price of steel has gone up from US@ 500 to US$ 1,825 per ton, about 300% in the last 1 year, as shown on the price chart below.
A few days, the US bipartisan approved US$ 1 trillion bill for infrastructure construction. A sizable number of law makers were willing to set aside partisan pressure, eager to send billions to their states for rebuilding roads, water supply, pipes, bridges and public works systems that underpin much of American life.
US $ 1 trillion is a lot of money for infrastructure construction. This will definitely help raise the steel price up higher and higher.
Why did I sell and buy back Hiap Teck?
Due to Covid 19 MCO lockdown and our political uncertainty, many investors including myself have sold all our holdings. In fact, I posted articles to state that I have cashed out from the stock market about 2 months ago.
But a few days ago, when I saw that Hiap Teck price has dropped to a strong support level as shown on the chart below, I started to buy back at cheaper prices. This simple means that many investors have already discounted the depressive effect of the Covid 19 pandemic and our political uncertainty. It is safe to buy back Hiap Teck.
I am not trying to regurgitate Hiap Teck to encourage readers to push up the share price to make me richer. I know many stupid critics will say that when old KYY asks you to buy, you must sell. Please continue to sell so that I can get richer faster.
Hiap Teck shot up from 49 sen to close at 55.5 sen today. It has gone up more than 13% in the last 5 trading days.
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Discussions
Be the first to like this. Showing 9 of 9 comments
Very good news for Steel and especially long steel billets and bars by Masteel
But still need time for Congress approval
More imminent is the bull run time for Palm oil
first and foremost
2021-08-13 13:27
Rubbish mah!
If USA 1.2 trillion go ahead, the requirement of steel will be source from USA steel manufacturers mah!
All of u R dreaming that USA will source steel from Leon Fuat, Masteel, Hiap Tek...it is just all rubbish....the steel demand of USA will come to msia for sourcing loh!
2021-08-13 14:26
What rubbish !!
Who are you to condemn others.
There is not enough steel products for US to buy if 1.7 trillion USD is spend to purchase them.
Once China stops selling steel products below cost, all steel stocks listed in KLSE will make good profit.
Do not think that you are the only guy knows to invest in KLSE.
2021-08-13 15:27
Posted by ValueInvestor888 > Aug 13, 2021 3:34 PM | Report Abuse
Msian steel companies also exported steel to US currently, though quantities are small. Can become big if demand increases.
2021-08-13 15:45
Posted by ValueInvestor888 > Aug 13, 2021 3:36 PM | Report Abuse
Currently, Ann Joo, Eastern Steel, Masteel exported a lot to China due to great demand there. You check with those worked in steel companies you will know lah. Must do homework before investing
2021-08-13 15:46
msia kicimiao steel exporter...most of the time importer mah!
Export to china given mah....bcos eastern steel own by china mah....also kuantan port very near china loh!
Posted by ValueInvestor888 > Aug 13, 2021 3:34 PM | Report Abuse
Msian steel companies also exported steel to US currently, though quantities are small. Can become big if demand increases.
Posted by ValueInvestor888 > Aug 13, 2021 3:36 PM | Report Abuse
Currently, Ann Joo, Eastern Steel, Masteel exported a lot to China due to great demand there. You check with those worked in steel companies you will know lah. Must do homework before investing
2021-08-13 15:49
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2021-08-13 09:24