im on a dilemma on steel counters. can someone give me some advice / ideas steel prices up thats nice raw materials up, cost of production up. is there any specific steel industry in play? like oil sector, oil price up = only those who is able to dig for oil + oil reserve benefited from oil price up then those who base on contract see their share price drop or no movement
for steel counter im on dilemma, the last super rally was because of their inventory. now i have no idea
peluang naik esok memang ada hanya melepasi 460 atau jatuh kembali merah atau bertahan 455 . apapun hold pasti akan lepasi 500 tak minggu ni minggu depan . merah beli hijau tunggu masanya terbang pasti akan tiba . good luck
hanya berbicara di waktu lapang maaf jika ada silap kata
Steel rebar futures rose past CNY 4,060 per tonne in January, the highest since late August, supported by expectations of higher demand and signs of tight supply. Iron ore costs in China jumped as cargo surveyors flagged a sharp decrease in shipment volumes from major producer Brazil, leaving blast furnaces scrapping for the steel-making ingredient.
Steel rebar futures are trading around CNY 4,006 per tonne (yesterday price) , down from the six-month high of CNY 4,180 touched on January 30th after a survey of post-Lunar New Year inventories of steel products in China showed a significant increase.
The tailwinds is pointing to a good direction for steel related counters. Last QR (Sept to Dec), the steel was priced at: Sept CNY 4000 Nov CNY 3500 (dropped) Dec. CNY 3900 (recovering) Basically all steel related company QR was bad.
Jan'03 CNY 4100 Feb CNY 4200 as of 14 Mar CNY 4339 Practically, next QR forecast should be better.
Prices for iron ore cargoes with a 63.5% iron ore content for delivery in Tianjin were near $130 per tonne, approaching the eight-month high of $133 touched on February 21st as investors remain optimistic about Chinese demand this year.
Steel rebar futures rose above CNY 4,300 per tonne in March, the highest in eight months, on optimism of higher demand from China as the country enters peak construction season and is set to announce more fiscal support. The Chinese government announced a 5% growth target for this year during its National People’s Congress session, paving the way for more stimulus for infrastructure. Meanwhile, supply remained tight as major steel production hub Tangshan was forced to extend its production halt in response to heavy pollution. Also, steel mills were forced to make higher bids for iron ore since adverse weather in top iron ore producers Australia and Brazil limited shipments.
"article from Trading Economics"
Trade at your own risk.
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Posted by hoot9e996 > 2022-03-10 22:16 | Report Abuse
im on a dilemma on steel counters. can someone give me some advice / ideas
steel prices up thats nice
raw materials up, cost of production up. is there any specific steel industry in play?
like oil sector, oil price up = only those who is able to dig for oil + oil reserve benefited from oil price up
then those who base on contract see their share price drop or no movement
for steel counter im on dilemma, the last super rally was because of their inventory.
now i have no idea