“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.”
Don't dump because of i3 comments. Later you will regret and chase the stock soon. Retail investors could be right sometimes you know. Steel could run again after mass vaccination and factory reopening. Annjoo, Lion Ind, China Steel, put these three on your watchlist
Hey 《UNCLE 1995》 Why u so worry price fluctuate daily, u main contra ke ? Steel counter is longterm stock , kalau u nak cari wang yg cepat , pergi penny stock counter la. Dont come here wayang . Faham?
Yes, backdoor PM will resign on Monday ! So, the new government will bring new hope and new confident to all the local & foreign investors enter into our market !
So, I think started from tommorrow, KLSE will have a big uptrend toward 1,800 to 2,000 pts !
Liondind tommorrow will spike to above 0.60 and T.p by end of Aug 2021=> break above 0.80 T.p by end of Dec 2021=> break above RM1.00 T.p by end of Mar 2022=> break above RM1.80 T.p by end of Jun 2022=> break above RM3.00
Elsewhere, mining stocks tumbled as Fed fears combined with further signs of Chinese action to reduce pollution from its heavy industry. Freeport-McMoran (NYSE:FCX) stock fell 4.8% as copper and gold both came under pressure, while Vale (NYSE:VALE) ADRs fell 5.2% as Beijing imposed stricter curbs on pollution from the steel industry. Steel prices have been weakening for some weeks now amid disruption to the Chinese economy from floods and Covid-19 lockdowns. Iron ore prices fell another 12% in Singapore overnight.
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....