Posted by bing > 2016-12-01 11:23 | Report Abuse

Quarterly report & ta fa already proven that!

Posted by bing > 2016-12-01 11:24 | Report Abuse

i dont want dividend, i want company growth!

Posted by Vizhai > 2016-12-01 11:29 | Report Abuse

Well said Bing. Dont want dividend but company growth.

Posted by probability > 2016-12-01 11:30 | Report Abuse

good opportunity to reallocate some of the gains in Prestar..
it might be just a dead cat rebound.

the price has to match...and the downside is limited.

Posted by 张天师买股票 > 2016-12-01 11:30 | Report Abuse

可惜，昨天错过了，现在只能长大眼睛流口水，看罢了

Posted by PlsGiveBonus > 2016-12-01 11:49 | Report Abuse

My ball is shaking yesterday seeing many panic seller run like a headless chicken
:)

Posted by hewiester > 2016-12-01 11:57 | Report Abuse

PlsgiveBonus: hahhahahha. Did u sell it all. . . since u were the one who shouted FED to raise interest?!? I hope they are still there, intact and hangin' ;)

Posted by PlsGiveBonus > 2016-12-01 12:02 | Report Abuse

Actually I want to buy some at below 68 to 84 cents
Can't get any

Posted by aliciateo > 2016-12-01 12:04 | Report Abuse

REBOUND!!!!

Posted by strykerjunior > 2016-12-01 12:05 | Report Abuse

pls grab anything below 0.95. You wont get this price anymore in the next few years.

Posted by PlsGiveBonus > 2016-12-01 12:06 | Report Abuse

Yesterday already rebound
Today may be a bit too late
I don't want to buy now
:)

Posted by probability > 2016-12-01 12:13 | Report Abuse

The reason why even next quarter the results will be below expectations is because the speed the HRC price (imported) had risen was too fast.....and though the CRC price did rise even more externally in Asian market (causing the spread to be even higher)...the local key clients of Mycron would not accept such sudden rise in their raw material price.

In order tp avoid losing key customers Mycron has no choice but to share the damage by compromising their margin relative to the high external market spread.

This is what had happened and will continue to happen as long as the absolute price of HRC and CRC does not stabilize , i,e reaching a plateau.. of course the price should not reverse.

But again price movement is relative to market expectations on the earnings. If the market is satisfied with current EPS and willing to give a PE of 10...then its dead cheap now.

Posted by stockmanmy > 2016-12-01 12:17 | Report Abuse

prob

Dec quarter will be better than Sept quarter because the 15% anti dumping duty on crc imports only starts from end Sept.

Posted by probability > 2016-12-01 12:21 | Report Abuse

stockman

please show me the link where you had obtain this information. I must have greatly overlooked this information. That would be a crucial detrimental data.

Posted by PlsGiveBonus > 2016-12-01 12:21 | Report Abuse

Today many trader get into the same boat
Trader cut loss will drive it down too
Very dangerous to enter now

Posted by 张天师买股票 > 2016-12-01 12:24 | Report Abuse

发觉最近很多人喜欢讲爷爷奶奶的故事，RICKY杨也许还有更多要和我们分享？

Posted by Ricky Yeo > Dec 1, 2016 11:21 AM | Report Abuse
If you want to look at long term fundamentals, you can go ask people that hold Mycron since 2007, how they just barely breakeven 10 years later.

Posted by probability > 2016-12-01 12:25 | Report Abuse

please do not confuse on long steels like Rebar with flat steel such as CRC

Posted by probability > 2016-12-01 12:30 | Report Abuse

On Ricky Yeo's comment...i think we must appreciate fundamentals of 'dumping' and the fundamental effects of "removing" this 'dumping'.

Together with local Import Duty imposed factors....
before we talk about the PE the steel industry deserves.

Posted by absolutelk > 2016-12-01 13:15 | Report Abuse

correction, anti dumping already started from 24 May 2016 to 23 May 2021.

http://www.miti.gov.my/index.php/pages/view/3343

Posted by probability > 2016-12-01 13:30 | Report Abuse

Excellent information below...this shows why PRESTAR importing from POSCO Korea having the least duty % imposed is becoming so profitable!


http://www.miti.gov.my/index.php/pages/view/3343

Posted by probability > 2016-12-01 13:33 | Report Abuse

Remember the Duty is in terms of %.....the effects on Margin of local companies will be amplified when the Steel price soars. That is why PRESTAR is turning out as the winner.

Posted by stockmanmy > 2016-12-01 13:37 | Report Abuse

its every where and even in some recent results announcements.....and it is not detrimental to CSC....it is good for CSC and crc players.
and please note.....the 15% new duty is only on crc ( not hrc which is CSC raw materials)

If you go to Mycron latest annual report, you can find very detailed write up.





stockman

please show me the link where you had obtain this information. I must have greatly overlooked this information. That would be a crucial detrimental data.

Posted by probability > 2016-12-01 13:41 | Report Abuse

the question is the duty on CRC imported changed only on Sept 16' ?
i think the answer is no...it had taken effect very very long ago

Posted by absolutelk > 2016-12-01 13:43 | Report Abuse

correction again! there is anti dumping for hot rolled coils too!

http://www.miti.gov.my/index.php/pages/view/contentb4a2.html

Posted by stockmanmy > 2016-12-01 13:43 | Report Abuse

the answer is Yes...effective end Sept 2016''''you can verify from some recent results announcements......the analysis portion


probability > Dec 1, 2016 01:41 PM | Report Abuse

the question is the duty on CRC imported changed only on Sept 16' ?

Posted by absolutelk > 2016-12-01 13:44 | Report Abuse

But Mycron's source of raw material are from Japan, so the AD doesnt affect Mycron :)

Posted by stockmanmy > 2016-12-01 13:44 | Report Abuse

this proposal was abandoned after objections....read all about it in Mycron AR.



absolutelk > Dec 1, 2016 01:43 PM | Report Abuse

correction again! there is anti dumping for hot rolled coils too!

Posted by probability > 2016-12-01 13:46 |

Post removed.Why?

Posted by probability > 2016-12-01 13:47 | Report Abuse

Annual report 2016:

http://klse.i3investor.com/servlets/staticfile/291589.jsp

Posted by probability > 2016-12-01 13:59 | Report Abuse

When Prestar can import CRC at a much lesser import duty , Mycron can never raise their selling price of CRC locally.

http://www.prestar.com.my/bizActivities/steelUnit_posmmit.asp

Since Prestar has further value addition process on the CRC itself, this will cause the locak CRC buyers from Mycron steel to seek a very competitive pricing of CRC from Mycron in order to compete with Prestar.

That will cause the local price of CRC much lower than the external Asian price....this answer why Mycron is unable to raise their selling price to transfer the rise HRC price (their raw material cost).

Posted by absolutelk > 2016-12-01 14:00 | Report Abuse

correction again, the one been rejected is safeguards (which been filed by MegaSteel) not anti dumping! :)

Posted by YiStock > 2016-12-01 14:04 | Report Abuse

Probability, i think as long as the supply glut (either local / international) remain, the whole industry will be doing the most, ok. The hurdle to do great is too big to overcome.

Posted by probability > 2016-12-01 14:11 | Report Abuse

Agree...steel industry is extremely competitive. But they had been priced very low too low too long...due to the artificial dumping price.

Recent development on China policy has huge effects on peanuts companies in Malaysia. Thats like the Summer or Spring is appearing after a long cold winter...small flowers will easily bloom here and there..

Posted by stockmanmy > 2016-12-01 14:15 | Report Abuse

Prop

No need to argue
I have done my homework
I put my money in CSC and I expect to make good money

Posted by stockmanmy > 2016-12-01 14:18 | Report Abuse

All Crc players will do well
But I put my money in the biggest

Please note only a handful of steel counters will do well....not all.


Do be careful

Posted by probability > 2016-12-01 14:21 | Report Abuse

stockman..there was never an argument here.

I just asked for clarification on your claims. If you are not willing to provide - to you earlier statement , it only means it is senseless - zero meaning. Its up to you to convince other wise... i leave it to you.

and by the way i have nothing to say or said on Cscsteel.

Posted by John Lu > 2016-12-01 14:23 | Report Abuse

I add 0.85 yesterday

Posted by bing > 2016-12-01 14:27 | Report Abuse

i add.... oh no add!

Posted by PlsGiveBonus > 2016-12-01 14:50 | Report Abuse

Run run
:)

Posted by probability > 2016-12-01 14:51 | Report Abuse

run to where?

Posted by PlsGiveBonus > 2016-12-01 14:53 | Report Abuse

Banker unload to trader

Posted by musangfoxking > 2016-12-01 15:26 | Report Abuse

then trader wins and put into bank!

Posted by Alex Lim Jun Xiong > 2016-12-01 15:29 | Report Abuse

Better take profit, rebounce is an opportunity..
Tomorrow Friday, might be another sell down.

Posted by bing > 2016-12-01 15:44 | Report Abuse

yesterday big drop you said somethings like banker unload, if tomorrow so on big up what you say? Maybe say this are a miracle Friday, impossible!? go go go...

Posted by bing > 2016-12-01 15:56 | Report Abuse

Although in different sector of steel, Prestar earn money Mycron also earn money in this quarter. Wait for rebound!

Posted by eskaylien > 2016-12-01 16:11 | Report Abuse

Probability and stockmanmy:

Anti-dumping duties on selected crc imposed by MITI from end-May 2016 to May 2021.
Check MITI press release May 2016.

CSC Steel had said Oct & Nov sales showed improvement due to restocking. I suspect Mycron's and CSC's sales were front-loaded during the 2nd quarter in anticipation of this anti-dumping duties resulting in their lower 3rd Q sales.

Posted by probability > 2016-12-01 16:15 | Report Abuse

thanks Eskaylien

Posted by PlsGiveBonus > 2016-12-01 17:12 | Report Abuse

I think PER 8 is a fair value in bear market
Trader better take profit before too late

Posted by Muarmali > 2016-12-01 17:37 | Report Abuse

contra gain. i like this counter.

Posted by VenFx > 2016-12-01 21:06 | Report Abuse

Mycron is now busy to filling up their warehouse .