Posted by moneySIFU > 2017-02-14 01:13 | Report Abuse

Big like, I like to read articles written by Jefftan, meaningful

Posted by Albukhary > 2017-02-14 01:31 | Report Abuse

I also BIG Like!! Thumbs up for Zefftan

Posted by YiStock > 2017-02-14 06:16 | Report Abuse

Zeff, 在剧烈的竞争环境， 我觉得中国绝对有可能把钢铁直接运输过来。"一帶一路" 的路， 就是从钢铁开始。中国领导人的智慧，黄皮肤的骄傲。

Posted by YiStock > 2017-02-14 06:21 | Report Abuse

中国钢与(加运输费) 可以便宜到要被imposed anti dumping duty, 它们的竞争力超强。

Posted by einvest88 > 2017-02-14 08:27 | Report Abuse

very little meat left

Posted by John Lu > 2017-02-14 08:28 | Report Abuse

This year is o&g, commodity play

Posted by leoting > 2017-02-14 08:31 | Report Abuse

Just little bit correction. ANNJOO 安裕工厂 - 位于北马

Posted by Warn3r > 2017-02-14 09:06 | Report Abuse

Like like like.

Posted by zefftan > 2017-02-14 10:20 | Report Abuse

thanks all for the corrections

Posted by fatty_tang > 2017-02-14 10:38 | Report Abuse

very informative, tq~

Posted by JN88 > 2017-02-14 13:49 | Report Abuse

PMETAL??

Posted by zefftan > 2017-02-14 14:27 | Report Abuse

Pmetal 是铝业

Posted by blackdove > 2017-02-14 15:03 | Report Abuse

I also worry china will direct import steel with tax free(or discount) privileges.

Posted by leoting > 2017-02-14 16:10 | Report Abuse

A lot of peoples worry of China cheap dumping, but where you can source the cheap supply like 2015-2016. No more such cheap supply and now all expensive.

Posted by woosytan > 2017-02-14 17:26 | Report Abuse

good like. look at ssteel result

Posted by 100percentprofits > 2017-02-14 19:46 | Report Abuse

Heyyyy you took my chart!

Posted by zefftan > 2017-02-14 23:26 | Report Abuse

100percent: i apologize for that copyright, i got it from telegram, thanks for it

Posted by bigbigboss > 2017-02-15 00:03 | Report Abuse

dont forget china if import to malaysia must safe guard almost 20%

Posted by goesky > 2017-02-15 08:57 | Report Abuse

Southern got one company name Southern HRC

Posted by YiStock > 2017-02-15 09:14 | Report Abuse

My view is, that's exactly one of the key point.

When you look at those have "cheap" inventory, you can still take advantage of cheap inventory you have and sell at higher price now.

When cheap inventory depleted (depends on individual company), you need to replenish with "expensive" inventory, then margin will drop significantly.

Latest result of SS Steel clearly shows that. When the COGS remain flat, but higher revenue registered, they are using cheap old stock.

Once the old stock depleted, the profit margin should squeezed.

We do not have data of actual inventory in "tonnage". All are showing figures only.

This is something need to be very careful to consider.

Posted by leoting > Feb 14, 2017 04:10 PM | Report Abuse

A lot of peoples worry of China cheap dumping, but where you can source the cheap supply like 2015-2016. No more such cheap supply and now all expensive.

Posted by 100percentprofits > 2017-02-15 10:39 | Report Abuse

zefftan 100percent: i apologize for that copyright, i got it from telegram, thanks for it
14/02/2017 23:26


Haha, don't worry. I was just poking at you. Great article! (had to use google translate)

Posted by 100percentprofits > 2017-02-15 12:34 | Report Abuse

Also I completely agree.
Rebar prices have been high for the month ending Dec 2016.

Annjoo is likely to benefit the most as they are in the upstream business.

SSteel has already posted strong profits due to higher rebar prices due to China's increasing rebar prices and the safeguard measures

Posted by chang0509 > 2017-02-15 21:50 | Report Abuse

Hi Zeff. What is your view on coming announcement of Prestar's result? Since its raw material is HRC, will its profit dropping due to higher cost for raw material?

Posted by zefftan > 2017-02-16 12:01 | Report Abuse

Maybe their effect is not so teruk like csc because of their product mix , but somehow I think will get affected

Posted by JN88 > 2017-02-16 18:15 | Report Abuse

PMETAL up all this down...sad...sad..