Posted by Tobby > 2022-03-03 00:54 | Report Abuse

Maybe i am wrong but for me, oil stocks will be taking a backseat! The world is going to face shortage of steel! And steel is a commodity which China supply half of the world demand! As for oil, at usd100, downstream industry will take the lead now! Of course Favco will be in full book mode soon! But never mind, because, for steel, China can make half of world buyers scream and shout!
With Ukraine conflict on full blown, supply of iron is now reduce drastically! And China is looking pretty at the moment! And China can decide to reduce supply at it's will which what China is doing lately due to environment concern back home!
Decision is yours! In coming weeks or months, there's going to be panic for sure! Sad for developers who will find the price of rebar going up the roof! What can they do! Other industries which need big amount of steel too will be badly affected!
Hence those who knew what's coming will stockpile as much as possible! Hence the sudden surge in steel price in coming days!

Posted by Tobby > 2022-03-03 11:40 | Report Abuse

Look at steel price now!

Posted by ahbah > 2022-03-03 11:51 | Report Abuse

I shall look at steel price after I got finish look at palm oil price.

Please no mind. Thanks.