Will rebound, just matter of time, once rebound will up 20 to 30 cents so don’t sell this good counter.

China is considering a complete ban on imports of solid waste, including all metal scrap, by the end of 2020, the country’s State Council said on Sunday June 24 in its latest anti-pollution policy document.

Total complete steel scrap ban by 2020 will push up steel scrap price in China, price maybe double the price now just like waste paper processing company experiencing currently, so steel price in China will be higher and higher by 2020 because most of them are using scrap metal instead of iron ore.

US scrap export market stunned by China’s scrap ban goal
China’s push to enhance its environmental protections has reached a tipping point, with the nation’s new target of implementing a complete ban of all scrap imports by the end of 2020 leaving US recyclers in a lurch.

June 25, 2018 22:52 PM By Bradley Macaulay
FacebookTwitterLinkedInEmailMore2
China is considering a complete ban on imports of solid waste, including all metal scrap, by the end of 2020, the country’s State Council said on Sunday June 24 in its latest anti-pollution policy document.

The proposed goal marks a new threshold for the nation in its long-term strategy to enforce stricter environmental regulations, develop a more circular economy and advance its domestic recycling.

Exporters astonished
“So far, this is what is being proposed from China. It has not been implemented yet, but I think it is going to be. I don’t know if anyone will be able to change it. It’s a shock,” an export source said. “I have verified with Beijing that all Category 6 scrap metal will be included in this: furnace-ready materials like No 1 and No 2 copper, and copper chops, and twitch and zorba. This will not just kill the scrap industry, but what about China’s own demand?”

This policy is not out of left field, given China’s new rigorous inspection procedures at the port of destination and strict implementation of carried-waste thresholds, as well as its earlier announcement of a complete ban on imports of lower-quality, Category-7 copper scrap by the end of this year. Still, the reality of the nation substantially prohibiting imports in less than two years’ time has left US recyclers in shock.

“It is really a nightmare. It seems very clear that China may ban scrap metal, though this is not an official announcement and there are two years still, so a lot can happen. I think China will still allow some scrap to be imported into China. They need to import some. It is unreasonable; even fully developed countries still buy scrap,” a second exporter said.

And other sources shared similar sentiments.

“I don’t know how they’re going to do it. It is devastating to US exports of certain grades of coppers, brasses and zorba. Those are the main items that the US is going to have to deal with. There are no other countries that can process all the zorba even now, and China is still buying,” a third exporter said.

“There is a new announcement coming out of China every day - another new barrier. We like options, but China is becoming less and less of an option, and it sure seems [like] they are trying to test the waters. I don’t know why they want to do this, because scrap is much more efficient to melt than other items. We are now trying to become very self-efficient so that we can sell to Europe or domestic consumers," a fourth exporter said.

Market, supply shifts
If China does ban or further limit scrap imports, the impact on metal prices could be devastating, according to market participants.

“There could be enough negative impact on spreads that domestic refining becomes extremely topical again. At some point, there will be a dramatic downturn of scrap prices,” a fifth exporter said. “The valuation of US-based scrap companies is going to get hit. One has to assume price structures will be less lucrative, margins will take a hit, scrap earnings will take a hit, and these scrap companies may have to look at integrating into end-use and manufacturing if they have the capital.”

Others speculated that if the new ban is officially implemented, China will shift from buying raw materials to purchasing more semi-finished products to fill that void.

“China wants to consume their own domestic waste and scrap. If this new regulation becomes implemented, I can see China becoming a real consumer, shifting more and more into consuming metal instead of processing metals,” the first exporter source said.

"Perhaps this will create more opportunities... Countries now [might have to] process and make scrap into ingot and brass bar or copper rod instead of relying on other countries like China to process. Still, I think what Beijing should have done is at least [give] the industry more time... three to five years to plan ahead. Two years is going to be really difficult,” the first exporter added.

The country's demand level remains unclear, however, other market participants said, noting that the announcement went beyond simply implementing heightened environmental protection and vaguely outlined a deeper cultural push to promote a “greener” public initiative.

China intends to “strengthen the propaganda and education of ecological civilization; promote a simple and moderate, green and low-carbon lifestyle; and oppose extravagance and waste and irrational consumption,” according to the announcement.

Steel price in India at all time high as above at RM2900 a ton, Annjoo should consider India too as thier export market.

https://m.timesofindia.com/city/chandigarh/industrialists-worry-as-steel-prices-touch-all-time-high/articleshow/64525003.cms

Annjoo should maximize production to 850K ton at all time to maximize profit by exploiting the local and export market

Annjoo give 10% dividend, some big funds slowly collecting at rm2.10 to rm2.15... klse will be back to 1750 at least in one or 2 weeks, and annjoo to rm2.6 to rm2.7 , now clearly oversold position and good to accumulate

http://www.taipeitimes.com/News/biz/archives/2018/06/22/2003695284

http://m.scmp.com/news/china/policies-politics/article/2150843/job-losses-and-slower-growth-may-be-price-chinese

http://www.xinhuanet.com/english/2018-06/20/c_137267984.htm

I think he bought at RM3+ and sold at RM2+

Warn3r Hi Grace. So you're holding long term? Or you’re not holding any but just someone who is very free to drop by every now and then? Just curious.

Google "Malaysia steel import" click malaysia steel import report 2017

Malaysia import 8mt of steel in 2017 while local production total only 2.8mt in 2017, there is huge demand in Malaysia itself, price rise in China good for malaysian producer.

Malaysia total steel import total 8m tons in 2017 while local production total about 2.7m tons in 2017, distruptions in China itself enough for Malaysia steel companies , google to find out

http://www.xinhuanet.com/english/2018-06/09/c_137242878.htm

https://in.reuters.com/article/asia-ironore/update-1-shanghai-rebar-rises-for-3rd-day-on-new-steel-capacity-ban-idINL4N1TG368

Exciting time indeed for Annjoo..

https://www.chem.info/news/2018/05/graphite-prices-could-push-higher-tightening-markets-batteries-electrodes

https://www.telegraphindia.com/business/graphite-india-on-the-prowl-231902

low volume, looks like will be back to RM3.5 soon

http://www.sunsirs.com/uk/prodetail-927.html

No more foreigner in Annjoo I think, director buying last 3 days since 5th June I think, already drop so much now time to get back to at least RM3.00.

https://www.reuters.com/article/us-china-parliament-steel-coal/china-to-cut-more-coal-steel-output-to-defend-blue-skies-idUSKBN1GH034

Environmental concern in China pushing up steel price, good for steel Industry

Pakatan harapan goverment must look into EPF, something seriously not right EPF, KWAP,PNB buying and selling sometime on same day,hidden agenda at work.


Posted by Jeffreyteck > Jun 8, 2018 11:54 AM | Report Abuse

IBs must be very happy with EPF, buy...sell...buy...sell. wish EPF internal controls is sound in order to minimize brokerage charges.

https://af.reuters.com/article/commoditiesNews/idAFL3N1T92PA

foreign selling not much, so far total only aboout USD1.5 Billion, goverment is bringing back USD15 Billion invested in USA and around the world during Najib time by EPF,KWAP,PNB and other big funds


Nothing to worry, foreign funds will be back soon.

have drop a lot, fundamentally good counter, next week RM2.50 easily

Have drop so much , time to go back to RM3.5

added yesterday and today Annjoo...

No more mega project, difficult for Annjoo... no sales will report losses ka ?

when is Muda AGM ?

seem foreigner are still dumping Annjoo

Then erkongseng bought gkent at 1.64 something

Erkongseng sold 2 weeks back, I believe he sold at 2.73

I believe erkongseng now stuck with Gkent, bought 1.64 now price 1.17, almost same with Muda

Yeah, speechless

Last one month only Muda going up to 2.80 from below 2, fund manager already know Muda performance for month of April 18 and May 18, thats why going up fiercly.. qtr 2 and qtr 3 will be good just wait for 6 months.

https://www.google.com/search?q=indah+kiat+share&oq=in&aqs=chrome.1.69i57j35i39l2j0.1366j0j4&client=ms-android-samsung&sourceid=chrome-mobile&ie=UTF-8

Those who talk negative trying to collect , good

Finished product at all time high and waste paper at all time low which is not reflected in qtr 1 report, tp 4 still on track with good qtr2 and qtr 3 result. China blue sky policy take full effect from April 18 onwards only which is reflected in the ever increasing price of finished good. The future still hold brigh for Muda , just wait for qtr 2 and qtr 3 result.

Next qtr eps 20 cents a share ...

Finished product at all time high, waste paper at all time low which is not in 1qtr report, TP 4 still intact

Waste paper price at all time low, finished product at all time high now which is not reflected in the 1st qtr report, fund manager buying on anticipation of future good performance ..

Abvious profit hiding by directors to accumulate at cheap

http://www.afr.com/leadership/afr-lists/rich-list/2018-afr-rich-list-anthony-pratt-number-one-in-record-year-for-wealth-20180521-h10cej

Future for paper recyling looks good, almost all making huge profit. Fund has been buying on future performance ... period. TP 4 still on track

Their report says competition from imported paper, doesnt make sense at all since China are the main supplier and they themselves are short of supply of paper & packaging. Management hiding profit for sure for cheap accumulation.

Something wrong somewhere, management hiding profit . Almost all paper recyling company make huge profit. Next qtr might report good profit again.