China world biggest steel producer going to lessen steel export. Want to let Australia feel some pain. US recovery full steam. Biden let lose many billion to show china that america also can built highway n high speed rail. Steel price in US is record high. When the steel shortage get bad soon steel price here will up. India being an important steel producer is having covid holiday.
Steel remains a solid insurance policy in preparation of inflation theme. However, economic recovery in Malaysia is projected to only take place in Q1 2022
Covid19 cases record today at 13,215. EMCO in Selangor & KL likely to be extended for another 2 weeks from tomorrow. That means STEEL FACTORIES IN SELANGOR & KL WILL LIKELY CONTINUE TO BE CLOSED FOR ANOTHER 2 WEEKS.
“The steel industries outside of China will potentially enter a renaissance period,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. in London. “We could see a turnaround story there because those economies just need their steel.”
Developments in China are key, given it produces more than half of the world’s steel, mostly with coal-fired blast furnaces. The government has signaled it no longer wants to bear the huge environmental burden that entails, so it’s seeking to curb production through measures such as firming up guidance on capacity swaps and removing export tax rebates.
“Restrictions almost certainly will come into place,” said Tomas Gutierrez, Asia editor and head of data for Kallanish Commodities Ltd. “Steelmakers overseas can sleep a little easier.”
Technically this counter should rebound. Good potential to hit back 80c as c19 is moving into nrp.2 & 3, we will see more sectors to be fully operate. Construction will gain momentum by October and hopefully will drive all related sectors . Good luck guys
“The steel industries outside of China will potentially enter a renaissance period,” said Tom Price, head of commodities strategy at Liberum Capital Ltd. in London. “We could see a turnaround story there because those economies just need their steel.”
Developments in China are key, given it produces more than half of the world’s steel, mostly with coal-fired blast furnaces. The government has signaled it no longer wants to bear the huge environmental burden that entails, so it’s seeking to curb production through measures such as firming up guidance on capacity swaps and removing export tax rebates.
“Restrictions almost certainly will come into place,” said Tomas Gutierrez, Asia editor and head of data for Kallanish Commodities Ltd. “Steelmakers overseas can sleep a little easier.”
18 July 2021
Also, Malaysia Inflation Data JUN YoY on Friday
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Rayyan
50 posts
Posted by Rayyan > 2021-05-29 14:33 | Report Abuse
After one year i left this forum, he is still here. He is khatulistiwa