Posted by straightarrow > 2021-11-02 18:28 | Report Abuse

Thank you Colgate.

Posted by OTB > 2021-11-02 19:02 |

Post removed.Why?

Posted by ming > 2021-11-02 19:16 | Report Abuse

Result 99% will be good la.. jz no sure the time steel price still able to sustain or not.

Posted by Hilmi22 > 2021-11-02 19:53 |

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Posted by abang_misai > 2021-11-02 20:07 | Report Abuse

Old man kena margin calls

Posted by Johnchew5 > 2021-11-02 20:30 |

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Posted by Johnchew5 > 2021-11-02 20:31 |

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Posted by Johnchew5 > 2021-11-02 20:45 |

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Posted by GoHaiDuongGo > 2021-11-02 20:55 | Report Abuse

https://www.mysteel.net/article/5026552-0501/China-ferrous-futures-hit-limit-down-on-bearish-sentiment.html

Posted by GoHaiDuongGo > 2021-11-02 20:58 | Report Abuse

ABSTRACT
On November 2, both iron ore and steel futures prices in China slumped further and hit their respective daily limit down on the growing bearish sentiment in these domestic ferrous markets.
On Tuesday, the most-traded January 2022 rebar contract on the Shanghai Futures Exchange (SHFE) plunged by Yuan 368/tonne ($57.5/t) or 8% on from Monday's settlement price to close the daytime session at Yuan 4,230/t, and the most-traded January 2022 iron ore contract on the Dalian Commodity Exchange (DCE) slumped Yuan

Posted by GoldenShares > 2021-11-02 21:06 | Report Abuse

the party is over, patience to wait below 0.50, : )

Posted by OTB > 2021-11-02 21:16 | Report Abuse

I find out the below information about Hiaptek.

Eastern Steel sells billet and slab to China and Asean countries using international pricing.
Not China price.
Billet and slab are selling like hot cakes.

Steel pipes and hardware are part of trading business only.

The drop in the rebar price has nothing to do with Hiaptek, who care about China Rebar future price.
Hiaptek does not involve in rebar business.
Malaysian investors are simply selling Hiaptek shares without knowledge.

I recommend to buy Hiaptek because the share price is undervalued.
Q1 2022 result to be released in December 2021 will be very good.
The steel price from August to October is very high.
Patience to wait until December 2021 to receive your Christmas present.

I hope the Q1 2022 good result will help to move up the share price.

I cannot dictate the share price, up or down is beyond my control.

Thank you.

Posted by MoneyMakers > 2021-11-02 21:18 |

Post removed.Why?

Posted by MoneyMakers > 2021-11-02 21:18 |

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Posted by MoneyMakers > 2021-11-02 21:22 | Report Abuse

Waiting steel to crash 50% (follow brothers) & nxt big dump

Posted by OTB > 2021-11-02 21:23 |

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Posted by UlarSawa > 2021-11-02 21:45 | Report Abuse

Malam malaml still promoting lagi ke . Facts n Figures promoter mau run road again after tabur benih ke. Correct?

Posted by UlarSawa > 2021-11-02 21:49 | Report Abuse

Iron ore price drop below 100 for the first. Cham liao lah. Correct?


Iron Ore Tumbles as China’s Curbs on Steel Output Roil Market
Krystal Chia
Tue, November 2, 2021, 3:03 PM·3 min read
In this article:


(Bloomberg) -- Iron ore futures extended losses below $100 a ton on shrinking steel output in China and signs economic growth is facing mounting headwinds.
Prices in Singapore slumped for a fifth day as the world’s top steelmaker ramped up efforts to cap annual steel volumes. While China has imposed curbs on production throughout 2021, restrictions are now being rolled out more frequently and limits have been extended into the first quarter in an effort to ensure blue skies for the Winter Olympics.

Daily crude steel output in the final third of October dropped to the lowest since March 2020, according to researcher Mysteel, which cited a survey of 247 blast furnaces and 71 electric-arc furnaces. There were frequent requests from local governments to curb production, while lackluster steel demand and softening prices have dampened mills’ willingness to produce, it said.

China’s top industry group has previously said steel volumes fell in early and mid-October, while official data showed output plunged to the lowest since 2017 in September.

“The probability that iron ore demand slides by at least 20% in the fourth quarter is increasing, judging from lower downstream demand,” said Orient Futures Co. analyst Xu Huimin. “We have to monitor if mills will actually reduce production on their own, which will worsen the market a step further.” The iron ore market in October was already at a 15% surplus, and cost support is currently at about $80 to $90 a ton, she said.

Iron ore futures in Singapore dropped 7.5% to $92.75 a ton by 2:59 p.m. local time. Prices in Dalian fell the daily limit, while rebar and hot-rolled coil slumped in Shanghai.

Posted by GoHaiDuongGo > 2021-11-02 21:53 | Report Abuse

https://www.steelorbis.com/steel-prices/steel-prices-market-analyses/longs-and-billet/chinas-billet-market-falls-again-leaves-almost-no-hope-for-imports-1220655.htm

Posted by ming > 2021-11-02 21:57 | Report Abuse

China import price for billet stood at usd690.. no much different compare early oct..

It is mainly due to price determine from supply side (turkey/india/SEA), instead demand side..

Base on current spot price for China rebar, dont think they will import much billet pun..

Posted by OTB > 2021-11-02 21:57 | Report Abuse

Eastern Steel sells billet and slab to China and Asean countries using international pricing.
Not China price.
Billet and slab are selling like hot cakes.

Posted by Tobby > 2021-11-02 22:00 | Report Abuse

Just a major correction playing out! Which is strange considering China is curbing steel production, which logic tells us that steel supply will be limited in medium term! Which will see shortage in steel supply!
But then again, logic does not play out well sometimes!
Oh well, just wait until this major correction stabilize!

Posted by Tobby > 2021-11-02 22:02 | Report Abuse

As for crash, this is not crash! It's not like suddenly the world has too much supply of steel and no demand! Instead, we seeing China reduction steel supply so that the sky in China turn blue! Like i said, logic is nonsense at the moment!

Posted by ming > 2021-11-02 22:02 | Report Abuse

Global steel price still maintain at up side, except china..

But have to think about without China, where else can Malaysia steel export? Philippine seem like still lock down..

Posted by UlarSawa > 2021-11-02 22:03 | Report Abuse

Deluge of steel billet cargoes offered to Southeast Asia amid China crash
Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China’s continued price decline, sources told Fastmarkets.

Closures at Chinese rerolling mills amid power rationing and environmental measures, together with spiraling ferrous futures markets, have badlym damaged steel billet demand in the country this week, prompting a crash in both local and import prices.
“The billet import market is dead and position cargoes are attempted to being moved to other destinations by traders,” a Chinese trading source said.
“Traders are offering cargoes to whichever market they can get a sale in now. There might be millions of tonnes of position cargoes out there,” a South Asian trading source said.

Extended rolling mill closures smash China steel billet prices
Deluge of steel billet cargoes offered to Southeast Asia amid China crash
Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China’s continued price decline, sources told Fastmarkets.

Closures at Chinese rerolling mills amid power rationing and environmental measures, together with spiraling ferrous futures markets, have badlym damaged steel billet demand in the country this week, prompting a crash in both local and import prices.
“The billet import market is dead and position cargoes are attempted to being moved to other destinations by traders,” a Chinese trading source said.
“Traders are offering cargoes to whichever market they can get a sale in now. There might be millions of tonnes of position cargoes out there,” a South Asian trading source said.

Posted by GoHaiDuongGo > 2021-11-02 22:06 | Report Abuse

China’s billet market falls again, leaves almost no hope for imports
Local billet prices in China have slipped again today, following the sharp drop in rebar futures prices and the weak outlook ...Source: SteelOrbis

Posted by Tobby > 2021-11-02 22:07 | Report Abuse

Posted by ming > Nov 2, 2021 10:02 PM | Report Abuse

Global steel price still maintain at up side, except china..

But have to think about without China, where else can Malaysia steel export? Philippine seem like still lock down..

Answer : No biggie! Price of steel in Malaysia already gone up over 50%! What's the problem!

Posted by UlarSawa > 2021-11-02 22:08 | Report Abuse

World largest Steel maker peak at 13th sept 2021 rm11.84 and now drop like golek sampai kaki bukit at Rmb6.76 only in less than 2 mths back to Early Feb 2021 price already. So scary like melting glacier leh. Will Hiaptek follow the Steel Taikor back to Feb 2021 price or not. No one know leh. Correct?


https://www.google.com/search?q=baowu+steel+share+price&oq=baowu+&...-8

Posted by OTB > 2021-11-02 22:10 |

Post removed.Why?

Posted by Tobby > 2021-11-02 22:13 | Report Abuse

In 10 months time, steel price gone up by 60%! Chill, just a major correction!

Posted by MoneyMakers > 2021-11-02 22:14 |

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Posted by MoneyMakers > 2021-11-02 22:16 |

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Posted by ming > 2021-11-02 22:17 | Report Abuse

U.S imposed tariff and quota for import steel..

Posted by MoneyMakers > 2021-11-02 22:20 |

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Posted by MoneyMakers > 2021-11-02 22:26 |

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Posted by Tobby > 2021-11-02 22:28 | Report Abuse

Posted by MoneyMakers > Nov 2, 2021 10:14 PM | Report Abuse

Walao commodity price alrdy plunge 50% still not consider crash..dunno what language dictionary this guy using

Answer : You mena iro ore price in China! Yeah, have you heard, China curbing steel production! Not related to drop in demand!

Posted by Tobby > 2021-11-02 22:31 | Report Abuse

Look, China basically want to see steel productions out of China! Want blue sky! I think China did the right thing at the right time!

Posted by Tobby > 2021-11-02 22:34 | Report Abuse

Like any kind of product, the price of steel is in large part determined by supply and demand! As supply decreases, the demand (and price) increases! The current supply of steel is very low and is causing the price of steel to continue to rise!

Posted by MoneyMakers > 2021-11-02 22:35 | Report Abuse

Aiyoyo price drop alrdy means supply-demand normalisation

Soo many news alrdy china steel demand dropping

Posted by Tobby > 2021-11-02 22:35 | Report Abuse

Moneymakers! Yeah, the mainstream media telling us demand in China is dropping! The usually stuff! Just like how they tell us, we have chip shortage or oil shortage!

Posted by MoneyMakers > 2021-11-02 22:36 | Report Abuse

Really sien need spoonfeed these strawberry

“October PMI (demand indicator) for the Chinese steel sector was DOWN 6.7% compared to September.

Meanwhile, October sub-index for new orders in the steel sector saw a BIG DECREASE of 10.8% month on month”

Posted by MoneyMakers > 2021-11-02 22:39 | Report Abuse

This is real tracking data..not media spin story aiyoyo

Only u keep spinning b’coz stuck chase high

Posted by takaje > 2021-11-02 22:39 | Report Abuse

MoneyMakers We all got ur point. You short already or not? Tomorrow we should see some action. Up or down we watch together.

Posted by MoneyMakers > 2021-11-02 22:45 |

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Posted by MoneyMakers > 2021-11-02 22:47 |

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Posted by Hilmi22 > 2021-11-02 22:49 | Report Abuse

Arcelor mittal...world top steel player
Also crashing another 5 percent.
Nt only china...india as well.
Hiap teik is just steel baby player.

Posted by Tobby > 2021-11-02 23:22 | Report Abuse

Moneymakers! Please continue educating us! Seems you are ahead of the curve! Old man like me has lower cpu power! Nice to read someone knowledgeable like you!

Posted by Tobby > 2021-11-02 23:23 | Report Abuse

Nowadays, i am not as hard headed! Must be open to others views! Moneymakers talk with facts!

Posted by Colgate > 2021-11-02 23:55 | Report Abuse

Let’s vote here.
Optimistic steel long term outlook:
1. OTB
2. Colgate
3.

Pessimistic steel long term outlook:
1. MoneyMakers
2. Hilmi22
3.

Posted by Colgate > 2021-11-03 00:03 | Report Abuse

Let’s vote here.
Optimistic steel long term outlook:
1. OTB
2. Colgate
3. Johnchew5

Pessimistic steel long term outlook:
1. MoneyMakers
2. Hilmi22
3. UlarSawa