I'm glad to hear people start talking CSCSTEL TP 2.00 bla bla bla. I guess Ooi Teik Bee TP rm2.97 is for long term, within 1 year. Just share my thought.
Normally end product price goes up first, then only follow by the raw material. (Current steel market)
For example, if rebar price is low, so the scrap steel will also be low. If the rebar price has gone up, then the scrap/iron ore will follow.
Unless there is shortage of supplies of scrap metal or iron ore, causing raw material price increased, the end products (rebar or crc) will increase then. (this is not the case here)
So, don't just look at one type of steel prices, it's better read all types of steel prices to get better pictures.
Also, take close look at current steel market development, the progress has been very positive since Mar 2016
CSCSTEEL is the best steel stock. But now the trend is ppl switch to small cap steel counter, like MYCRON, PRESTAR, YKGI. I support PRESTAR, as its forward PE only 5-6 times, and got dividend payout every year.
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....
moneySIFU
5,862 posts
Posted by moneySIFU > 2016-09-05 12:10 | Report Abuse
Hahaha, well done