Posted by Goodiinvestor > 2016-11-01 09:57 | Report Abuse

Hot rolled steel hit highest ever since last night

Posted by Yohoho > 2016-11-01 10:20 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5246989
next counter after Mycron ?

Posted by Goodiinvestor > 2016-11-01 11:42 | Report Abuse

China hot rolled future index shoot up to sky !

Posted by heata > 2016-11-01 12:01 | Report Abuse

To all sifus, whats your view on this?
http://www.theedgemarkets.com/en/article/hiap-teck-ropes-new-partner-resume-steel-slab-production-eastern-steel

Posted by probability > 2016-11-01 14:20 | Report Abuse

Local HRC can never compete with Asian HRC...as can be seen on the Mycron's annual report Page 13 Price Charts.

Even if there are to be local HRC manufacturer, government had decided to end the protection via Duty by Jan 2018 ~ almost zero. This probably will take place much earlier.

Note that Mycron had already started sourcing externally as mentioned in their reports.

https://www.steelorbis.com/printArticle.do?pub=en&sec=steelhaber&fileName=477849

Its impossible for any local HRC producer to become fully in operation commercially and capture the local market share by this time frame ~ 1 years considering the local disadvantage of having huge TNB tariff on electricity.

Posted by moneySIFU > 2016-11-01 14:31 | Report Abuse

Management hinted that the company will be able to make good profits due to the consistent spread / margin maintained between the CRC & HRC prices, no matter what happens in the raw material price

Posted by VenFx > 2016-11-01 14:45 | Report Abuse

Aren't them MOAT ? Good one.

Posted by alvinchiam > 2016-11-01 15:11 |

Post removed.Why?

Posted by moneySIFU > 2016-11-01 15:19 | Report Abuse

Oh, mohd changed his name....

Posted by Benjamin_8888 > 2016-11-01 16:17 | Report Abuse

Alvin, sell what?

Posted by moneySIFU > 2016-11-01 16:18 | Report Abuse

hehe, he want to sell his pants

Posted by Benjamin_8888 > 2016-11-01 16:22 | Report Abuse

Lol

Posted by moneySIFU > 2016-11-01 16:49 | Report Abuse

O.... someone removed his.......

Posted by Chelsea > 2016-11-01 17:24 | Report Abuse

CRAZY. CRC break record intraday increase (2.4%) from 3817 to 3910.
CRAZY. Spread break highest with 1000 between CRC (3910) and HRC (2910)

Posted by moneySIFU > 2016-11-01 19:10 | Report Abuse

Thank you, chelsea, it is great news, but the price should be RMB3,924, I think.

http://www.sunsirs.com/uk/prodetail-318.html

Posted by Goodiinvestor > 2016-11-01 20:22 | Report Abuse

I saw ntv 7 news. Najib China trip signed 12 memo.
One of them related to steel.

Posted by smartrader2020 > 2016-11-01 21:07 | Report Abuse

http://klse.i3investor.com/blogs/discoverychannel/107796.jsp

Posted by Goodiinvestor > 2016-11-01 22:12 | Report Abuse

Steel future index continue touch highest

Posted by spaghetti932 > 2016-11-02 10:05 | Report Abuse

wait for the price to come down, i wanna buy more.

Posted by moneySIFU > 2016-11-02 11:38 | Report Abuse

Seem like here are more staple than CSCsteel, really don't understand ⊙﹏⊙

Posted by myportfolio > 2016-11-02 11:42 | Report Abuse

this steel counter is holding itself very nicely, even on bad days like this :)

Posted by moneySIFU > 2016-11-02 11:48 | Report Abuse

True, even how hard we have worked on the calculation & read all reports/news, we still have to look up to Mr Market to see how he plays the card everyday :)

Posted by faytdestiny > 2016-11-02 12:02 | Report Abuse

Really strong n supportive
Hello to all sifu

Posted by faytdestiny > 2016-11-02 12:14 | Report Abuse

Hard to click button haha

Posted by VenFx > 2016-11-02 12:18 | Report Abuse

该跌 不跌 的 牛气股 , Huat Arrr ...

Posted by faytdestiny > 2016-11-02 15:52 | Report Abuse

Mkt very bad

Posted by Kana Miko > 2016-11-02 16:03 | Report Abuse

what company benefit from rail contract?

Posted by luilai > 2016-11-02 16:04 | Report Abuse

i don't read any bad news about steel yet the price keep dropping..
can the sifus here give some comment?

Posted by faytdestiny > 2016-11-02 16:08 | Report Abuse

Able to collect some

Posted by USApg > 2016-11-02 16:09 | Report Abuse

Kana Miko, annjoo and masteel

Posted by mamatede > 2016-11-02 16:12 | Report Abuse

I see seas of red

Posted by moneySIFU > 2016-11-02 16:12 | Report Abuse

Managed to add some RM1.08, wish me good luck, fellows :)

Posted by moneySIFU > 2016-11-02 16:52 | Report Abuse

Closed 1.12, not bad for the day

Posted by Undercover > 2016-11-02 16:55 | Report Abuse

Managed to get some at 1.09 too

Posted by nicky11 > 2016-11-02 16:57 | Report Abuse

Recently Mycron is quite consistent but dunno why the CRC dailou: CSCSTEL so weak..

Posted by moneySIFU > 2016-11-02 17:02 | Report Abuse

agree, nicky11, I have been scratching my head everyday for CSCSteel now.... ( ﾟーﾟ)

Posted by nicky11 > 2016-11-02 17:11 | Report Abuse

moneySIFU, pure cash company plus CRC price so high now, it should be a stable growth company but lolz...

Posted by Good_Trader > 2016-11-02 17:15 | Report Abuse

thanks god the closing price is 1.12. If 1.09 is super bearish in chart.
1.12 is good enough to continue climb higher :)

Posted by Goodiinvestor > 2016-11-02 17:48 | Report Abuse

China side continue cut steel production .

Posted by probability > 2016-11-02 18:23 | Report Abuse

Mycron was purely dragged down by CSC Steel which had 3 factors that caused cscsteel to plunge...based on my 2 cents judgement:

i) lack of a relatively clearer - tangible visibility on the expected future earnings..
ii) superinvestor's loss of credibility recently..
iii) market sell down like no tomorrow..

but as usual always reassure yourself by checking on the hard facts..again and again...

Posted by Goodiinvestor > 2016-11-02 18:35 | Report Abuse

Will up tomorrow la dun worries

Posted by probability > 2016-11-02 18:58 | Report Abuse

VenFX....my 2 cents:

I think there is a clear intention (or it makes better sense) by the Management - Melewar to push up the price of Mycron such that they can indirectly raise the price of Melewar to sell their shares there...

This way their stakes in Mycron is unaffected....
I have seen this done by Insas on Inari many years ago...

Posted by probability > 2016-11-02 20:42 | Report Abuse

https://www.metalbulletin.com/Article/3598105/Latest-news/Malaysias-Mycron-returns-to-profit-for-2016-with-earnings-of-55m.html

Posted by GoodInvestor > 2016-11-03 07:46 | Report Abuse

hewiester, there indicate mycron shares sold 200,000 units http://www.bursamalaysia.com/market/listed-companies/company-announcements/5246937

Posted by GoodInvestor > 2016-11-03 07:47 | Report Abuse

please confirm

Posted by VenFx > 2016-11-03 07:55 | Report Abuse

Probability, thx for the sharing.
But, with 71.5% Mycron share held by Melewar, they are bond tightly together now.
It depend in how Melewar Industry Group choose to release their capital.
With the bluishness from China Steel -CRC both Melewar & Mycron still have a long uptrending way to go.
My 2 cent only.

Posted by luilai > 2016-11-03 08:38 | Report Abuse

thanks @probability for the explanation.

Posted by LouisLim > 2016-11-03 09:03 | Report Abuse

VenFx, may I know where you can get RMB 3968.89? Thanks

Posted by Kana Miko > 2016-11-03 10:09 | Report Abuse

why the CRC price keep hike? any reason behind

Posted by VenFx > 2016-11-03 10:12 | Report Abuse

STEEL comodities in recovering since world largest producer China initiate production cut.