Posted by kenneth89 > 2015-04-24 10:39 | Report Abuse

last time I play this counter at 2.30 only… lol

Posted by VIWizard > 2015-04-24 10:43 | Report Abuse

wah kenneth.. u sure untung a lot leh :P

Posted by kenneth89 > 2015-04-24 10:44 | Report Abuse

if alumiun price fall like oil? Pmetal will drop to 1.00++ … damn

Posted by 8u29song > 2015-04-24 10:45 | Report Abuse

bod some at 2.93...

Posted by kenneth89 > 2015-04-24 10:46 | Report Abuse

hope u earn money =)

Posted by kenneth89 > 2015-04-24 10:51 | Report Abuse

3.40 drop to 2.90 … so scary… just 5 day time…

Posted by millionboss > 2015-04-24 11:01 | Report Abuse

in a bigger picture, PMETAL = KNM in longer term ??? Hahahaha

Posted by yongyou > 2015-04-24 11:14 | Report Abuse

wat happened to pmetal??

Posted by yongyou > 2015-04-24 11:15 | Report Abuse

congratulations....

"
muscle: tq pmetal -wc... bought 1.80 sold 1.84

24/04/2015 10:45 "

Posted by armt > 2015-04-24 11:30 | Report Abuse

What are the chance it drops to 2.70 today?

Posted by cipapo > 2015-04-24 11:48 | Report Abuse

finish...FALLING PARANG!!!

Posted by LaoLiu > 2015-04-24 11:48 | Report Abuse

Dangerous! Keep on falling.

Posted by keshminder > 2015-04-24 11:50 | Report Abuse

f u c k i n s h i t

Posted by Mikez Ong Lin Seang > 2015-04-24 11:50 | Report Abuse

wtf is going on with dis counter... free fall

Posted by armt > 2015-04-24 11:51 | Report Abuse

The benchmark aluminium price is down 1.4 per cent today, the most of all base metals traded on the London Metal Exchange, after China cut export taxes on certain forms of the metal.

China will remove the 15 per cent export tax on aluminum-alloy rods and strips, China's Ministry of Finance said. It will also cut taxes on rare earths, tungsten, and molybdenum, Henry Sanderson writes.

The decision sent Shanghai-traded shares in the Chinese government-backed Aluminum Corporation of China (also known as Chalco) up by ten per cent to RMb9.55.

Earlier this year China abolished its quotas on rare earths, after losing a case at the World Trade Organization on the limits which were imposed in 2009.

Aluminium traded on the London Metal Exchange for purchase in three-months' time is down 1.4 per cent to $1,781 per tonne.

The price of the bendy metal has fallen 2.5 per cent on the London Metal Exchange this year amid a global glut that has been exacerbated by exports of the metal from China.

The world's largest producers of aluminium Rusal and Alcoa have said this year they are reviewing smelters for closures amid low prices.

Posted by cipapo > 2015-04-24 11:52 | Report Abuse

due to falling metal price...funds are unloading...don't catch the falling PARANG!..RUN...Rm2.00 within vicinity

Posted by kenneth89 > 2015-04-24 11:55 | Report Abuse

as i meantion... 2.80 is coming

Posted by cipapo > 2015-04-24 11:56 | Report Abuse

http://www.theedgemarkets.com/my/article/press-metal-share-price-slumps-selling-pressure

KUALA LUMPUR (Apr 24): Aluminium extruding firm Press Metal Bhd (Press Metal) ( Financial Dashboard) emerged as Bursa Malaysia’s second biggest loser in morning trade today.

The company’s share price whose reference price stood at RM3.24 today took a plunge today to a low of RM2.88, losing 36 sen.

At 11.08am, it made a slow climb to settle at RM2.94, losing 30 sen or 9.26 sen from today’s opening price after over 9.9 million shares changed hand.

Just yesterday, Press Metal (fundamental: 0.95; valuation: 1.7) suffered an 11 sen or 3.28% decline to close at RM3.24 having experienced heavy profit taking.

Kenanga Research in a note today said that technically, the chart had turned less compelling with all the indicators moving south.

“This prompt us to take a more conservative route by locking in our gains … despite the share not meeting our stop-loss level of RM3.20. We might revisit the stock when the share price technical picture becomes attractive again,” it added.

KENANGA SELLING..STOP LOSS!!!

Posted by kenneth89 > 2015-04-24 12:01 | Report Abuse

DROP TO 3.00 THEN CLIMB TO 3.07-3.09 THEN DROP TO 2.90 THEN CLIMB TO 2.95-2.96 THEN NOW DROP TO? 2.80 ? THEN CLIMB BACK ? THEN DROP AGAIN? NON STOP DROP?

Posted by garaiya > 2015-04-24 12:08 | Report Abuse

This counter always like roller coaster... 2.84 now... Sigh

Posted by YOLOOOO > 2015-04-24 12:10 | Report Abuse

sinking boat

Posted by stockworm > 2015-04-24 12:12 | Report Abuse

Don't worry trading of this courter will be suspended by bursa KL if the share price drops more than 20%.

Posted by Lim Elson > 2015-04-24 12:17 | Report Abuse

pickup a bit again..

Posted by diqiuhao > 2015-04-24 12:28 | Report Abuse

Try luck. I believe short term only. Bought 5000 @2.84

Posted by Vaylens Chong > 2015-04-24 12:33 | Report Abuse

TP 2.40 ...

Posted by Lim Elson > 2015-04-24 12:33 | Report Abuse

wow... sui..

Posted by AlexanderJin > 2015-04-24 12:48 | Report Abuse

...speechless...

Posted by iswara > 2015-04-24 12:51 | Report Abuse

one time drop only...........next time drop slowly.......
if not affect business then will recover slowly....

Posted by Lim Elson > 2015-04-24 12:58 | Report Abuse

buy Icon too

Posted by 360Capitalist > 2015-04-24 13:11 | Report Abuse

Don't catch a falling knife,

I just share my view, since April 12.. alert members to cut position.. China removed of export duties has big impact on aluminium industry.
It will change the world aluminium supply landscape scenario to Over Supply situation from deficit.

Cut loss now, important is capital protection. Don't hope it will rebound tomorrow. Today is first day only, The worst is not coming yet.
Eventually It will go down to RM2.00 to RM2.20 soon, within 1 to 2 week.

Remark :-
I have Long term bearish on PMetal as long as China is removing the export tariffs,.

Posted by keng88 > 2015-04-24 13:15 | Report Abuse

today high volume panic selling...mati liao...

Posted by Yan kin Tsong > 2015-04-24 13:19 | Report Abuse

huge volume selling down is not small fish...slowly will see alphabet 1....cut loss save capital...huat ar!

Posted by YOLOOOO > 2015-04-24 13:22 | Report Abuse

FROM busy weekly
昨天开始显露败像的齐力工业(PMETAL，8869)与齐力工业凭单(8869WC)，今天在重压抛售围剿下，股价双双急挫!

半天休市时，齐力工业只做2.84令吉，猛退了12%或40仙；而凭单股则急降11%或23仙，报1.83令吉。其中母股半天的转手量达1590万股。齐力工业盘中一度做到2.82令吉最低价；而凭单盘中最低价则是1.78令吉。

齐力工业与齐力工业凭单是上半天排名第3与第4大跌幅股只。

阿马投行今天在一份报告中引述消息说，中国会从下个月起取消铝15%出口税，可能对国际铝市场带来巨大竞争，相信是致使齐力工业今天被疯狂抛售的主因。

Posted by 360Capitalist > 2015-04-24 13:32 | Report Abuse

I have big doubts on PMetal new expansion of capacity will be taking place as scheduled earlie

Posted by kenneth89 > 2015-04-24 13:37 | Report Abuse

wait for 2.20 lar =)

Posted by darius_175 > 2015-04-24 13:39 | Report Abuse

will dispose all my shares at 2.83....

Posted by tjhldg > 2015-04-24 13:48 | Report Abuse

Hahahaha hahaha ... I m in :)

Posted by TOKOK > 2015-04-24 13:52 | Report Abuse

show start afternnong

Posted by TOKOK > 2015-04-24 13:53 | Report Abuse

I'm in too

Posted by Kelvin Ching > 2015-04-24 13:54 | Report Abuse

i all in

Posted by robert168 > 2015-04-24 14:06 | Report Abuse

in fact the policies been set up by china government do help press metal too.. why I will say that..

have a check on the press metal company background. they do have plant at china,

Our subsidiary in Foshan, Press Metal International Limited, is one of the largest exporters of aluminium products in China, with a production capacity of 120,000 tonnes per annum.



The Group has also established an extrusion facility in Hubei, China, with a production capacity of 30,000 tonnes per annum. The Hubei extrusion operation complements our Hubei smelter which has a production capacity of 90,000 tonnes per annum. The smelter has a self-sufficient energy supply as our subsidiary owns and operates a 180MW coal-fired power plant.


No doubt this announcement will affect the price of aluminum BUT !!! for another way of looking it going to generate more sales volume for Pmetal.


cheers ~~~

Posted by nooniez > 2015-04-24 14:19 | Report Abuse

I've already show hand. Goodluck to us all

Posted by 360Capitalist > 2015-04-24 14:23 | Report Abuse

History will repeat ..It will touch support level at RM2.20 to 2.40. .. then RM1.80
Ignore all technical rebound as it will be short-lived as the aluminium sector has take a new ugly look now. I agreed with Fortunebullz, aluminium might be another commodity badly hit after oil, The aluminium price has trading at 5 years low now, with new china aluminium supply floods the market, we expect the prices go even lower than anybody guess.
For those expect high dividends play, your dream will end soon as the the thin profit margin will impact the company cash flow and its ability to pay dividend. PMetal might need to go for new round of fund raising like right issue if it persists of carrying the capacities expansion as planned earlier.

Remark:
I just share my view and You have the right to opine your view too..

Posted by ketupatlazat > 2015-04-24 14:38 | Report Abuse

Hahaha, i am seeing these aluminium producers ending up like steel makers.

You folks do know what happened when China floods their stuffs worldwide right?

The selling is not done yet. Those who looked to dump wont do it in a fast way.

It will be a gradual decrease to whatever bottom it is....huehuehue

remember, steel stocks are trading at -1 sd of its mean. This press metal is trading at >+1 sd.
Downside risk is Huuuuugeeee.

Better lock in profits now folks.

Posted by TOKOK > 2015-04-24 14:46 | Report Abuse

Steel market replace by aluminium ...
That why steel goes down

Aluminium replace by wht ?
so aluminium goes down like steel is a joke.

robert168 has point out the key , judgement by yourself

Posted by TOKOK > 2015-04-24 14:49 | Report Abuse

and don't forget relation of SUMITOMO and PMETAL

Cheers All~

Posted by Jingweihan > 2015-04-24 14:51 | Report Abuse

Buy

Posted by chome > 2015-04-24 15:01 | Report Abuse

From annual report:

CHINA
In China, our subsidiary in Foshan,
Press Metal International Limited, is
one of the biggest exporters of
aluminium products in China, with a
production capacity of 120,000
tonne per annum.
The Group also established an
extrusion facility in Hubei, China,
with a production capacity of
30,000 tonne per annum.

Posted by VIWizard > 2015-04-24 15:14 | Report Abuse

dun worry be happy

Posted by alanleeky > 2015-04-24 15:15 | Report Abuse

technical rebounding ....