Accumulate during weakness will reward later

Pmetal start recovery, emetall will follow later

what the new TP from CIMB?

Near term to 0.50

Look like today is bullish trend for steel sector.
Short/Mid term TP 0.45-0.50
Long term : To be update by IB

Lion ind is a specialty in long billet player.
It is a key player in this producing billet with multi product selection in variety size from 19x- 19xxmm.

http://www.asianmetal.com/news/data/1287944/

Chinese HRC prices upward
2016-04-12 08:31:16
BEIJING (Asian Metal) 12 Apr 16 - HRC prices kept rising in China on Monday, because of upward price trend of raw material as well as overall low stockpile. Taking Q235B 5.5mm*1,500mm*C as an example, in Shanghai, Guangzhou and Hangzhou, prices are RMB2,620/t (USD405/t), RMB2,700/t (USD397/t) and RMB2,800/t (USD386/t) VAT included respectively, up by RMB50/t (USD7.7/t) over last Friday. Insiders foresee another price increase in following two or three days.

A trader in Shanghai claimed that his price for Q235B 5.5mm*1,500mm*C from Ansteel is RMB2,620/t (USD405/t), up by RMB50/t (USD7.7/t) compared with last Friday.

According to the source, it is the sharp price increase of steel billet, the raw material for HRC, that boosted the current price rise. Therein, the price of steel billet soared by RMB140/t (USD21.7/t) from last Saturday to this Monday due to tight supply, after a total markup of RMB80/t (USD12.4/t) from last Monday to Friday. With the current sales volume of 200tpd, the source claimed that the market performance is getting better after the continuous price rise, and he only sold 2,000t totally in March. Holding a low stock of 2,000t, half of that in past years, he deems the HRC price is likely to go up further in the near future.

A trader in Guangzhou quoted RMB2,700/t (USD397/t) for Q235B 5.5mm*1,500mm*C from Benxi Steel, rising by RMB50/t (USD7.7/t) over last trading day.

The source revealed that the HRC price has increased by RMB130/t (USD20.1/t) in recent one week because of overall low inventory. Holding a stock of 4,000t at the moment against 5,000t during the corresponding period of last year, the source stated that local traders refuse to build large stockpiles and just supplement inventories according to grade shortage, for fear of potential risks. After all, the rigid demand is not strong enough. With the current sales volume of 400tpd, the source sold 9,000t in March.

A trader in Hangzhou, Zhejiang province reported that his price for Q235B 5.5mm*1,500mm*C from Shagang Steel is RMB2,800/t (USD386/t), up by RMB50/t (USD7.7/t) compared with last Friday.

Holding a low stock of 2,000t for the time being against 10,000t of last year, the source confirmed that it is the low stockpile that boosted the continuous price increase. With the sales volume of 100tpd against 70-80tpd late March, he reported a warm-up market after the price increase. Noted by him, though the rigid demand is insufficient, end users prefer to build some stocks, for fear of another price increase. He sold 2,000t in March.

http://www.asianmetal.com/news/d ... 20increases%20again

Chinese CRC price increases again
2016-04-12 08:32:29
BEIJING (Asian Metal) 12 Apr 16 - The CRC price in China went up on Monday influenced by steel raw material prices’ firm rebound. Prices of CRC SPCC/DC01 1.0mm*1,250mm*C in Shanghai, Shenyang and Guangzhou are RMB3,350/t (USD518/t), RMB3,350/t (USD518/t) and RMB3,500/t (USD541/t) VAT included respectively, up by RMB20/t (USD3/t), RMB100/t (USD15/t) and RMB20/t (USD3/t) over last trading day. Insiders predict that CRC prices will stay firm in the short term.

A trader in Shanghai revealed the price of CRC DC01 1.0mm*1,250mm*C from WISCO is RMB3,350/t (USD518/t) VAT included, up by about RMB20/t (USD3/t) compared with that of last trading day. Noted by the source, steel market was warmed up on Monday as steel billet prices rebounded by RMB90/t (USD14/t) to RMB2,220/t (USD343/t) last weekend. “The price of CRC failed to rebound sharply as the demand from downstream consumers remains weak,” he said, adding that his sales volume was about 500 tons on Monday, almost similar to the average level of last week.

According to the source, the company holds 5,000 tons in hand at the moment, more than the regular level of 3,000 tons. “We increased our stocks to 8,000 tons in the middle of March, hoping prices will continue to rise in April,” he said, adding that the demand failed to become strong when prices showed an upward trend. In his opinion, CRC prices will stay unchanged in coming two days.

A trader in Shenyang, Liaoning province said the price of DC01 1.0mm*1,250mm*C from Bengang Steel is RMB3,350/t (USD518/t) VAT included, increasing by around RMB100/t (USD15/t) compared with that of last trading day. The source stated that prices totally went up by around RMB200/t (USD31/t) in past two trading days. “The supply for CRC in North China is relatively tight for the time being, influenced by the output cut for steel raw materials,” he said, adding that he has 400 tons in hand at present, only one-third of the regular stock level.

The source revealed that he sold 5,000 tons in March, more than that of 3,000 tons in February, when there were fewer trading days. “If prices increase sharply, they are likely to fall back quickly,” said the source, hoping prices can climb up slowly. He shows some optimism for the market outlook in the short term.

A trader in Guangzhou, Guangdong province stated that the price of SPCC 1.0mm*1,250mm*C from Liuzhou Steel is RMB3,500/t (USD541/t) VAT included, up by RMB20/t (USD3/t) compared with that of last trading day. As he explained, prices began to show signs of going up last Friday. “It seems that prices are unlikely to further increase at the moment, as the market sales performance is not so good,” he said. The company has an inventory of 800 tons at the moment and some popular materials are out of stocks. Its regular stock level is about 1,200 tons.

Being short of confidence in the market recovery, the source has no plan to replenish his stocks in the short term. He does not think prices will keep rising without a firm support from the demand. The source revealed that his sales volume was about 100 tons on Monday and it was totally about 450 tons last week. He predicted that prices will be narrowly stable in coming two trading days as traders begin to worry about the market sales performance at present.

Hi Ven Felix, agree with u.
For this moment, patient will be the success key for fruitful return. I think this share can target for mid - long term player

http://www.asianmetal.com/news/d ... inue%20to%20go%20up

Malaysian steel plate prices continue to go up
2016-04-08 08:29:25
BEIJING (Asian Metal) 8 Apr 16 - Steel plate prices run on an upward trend in Malaysia this week because of low stockpiles, with the markup of around MYR50/t (USD12.7/t). Meanwhile, the market performance is improving. Currently the mainstream price of S275JR 14-25mm from local mills is MYR2,050-2,100/t (USD526-539/t) 6% GST excluded. Insiders foresee another price increase next week.

A trader in Selangor told Asian Metal that his price for S275JR 14-25mm from local mills is MYR2,050/t (USD526/t) 6% GST excluded, increasing by MYR50/t (USD12.7/t) over last Friday.

With the low stock of 500t at hand against 2,000t of last year, the source has not supplemented inventory in recent two months due to tight supply from mills. As local government restricts imports, materials from other countries like China, South Korea and Japan reduced much, leading to overall low stockpile locally and stimulating traders to raise prices in succession. “The steel plate prices have increased by around 10.8% after the Lunar New Year, and they are likely to rise further in the short term because of the material shortage,” added the source. With the current sales volume of 40tpd against 20tpd at the beginning of March, he stated that the market shows signs of warming up after the continuous price increase. He sold 600t totally in March.

Another trader also in Selangor claimed that his price for S275JR 14-25mm from local mills is MYR2,100/t (USD539/t) 6% GST excluded, rising by MYR50/t (USD12.7/t) over last Friday.

According to the source, upward price trend from peripheral markets is another main reason for the current prince rise. Therein, the export price from mills in China, one of the major origins for Malaysian steel plate has increased by USD5-10/t again in recent one week after a markup of 20% in past two months. In addition, prices for raw materials like iron ore and steel billet keep rising, which means mills’ production costs increase. In the meantime, the continuous appreciation of Ringgit against U.S. dollars strengthens market participants’ confidence. His current sales volume is around 20tpd, double of that at the beginning of March, and he sold 300t totally in March. Currently the source holds a stock of 400t at hand, while it was 1,000t at the beginning of 2015.

http://www.cnbc.com/2016/04/07/r ... price-forecast.html

Australia lifts 2016 iron ore price forecast

SYDNEY, April 8 (Reuters) - Australia on Friday raised its 2016 iron ore price forecast to $45 a tonne from $40.40 following a recent uptick in prices.

"While prices briefly rebounded to $61 a tonne in early 2016, increasing global supply coupled with lower demand from China's steel sector is forecast to result in prices softening by end of the year to average $45 a tonne in 2016," Australia's Department of Industry, Innovation and Science said.

(Reporting by James Regan; Editing by Joseph Radford)

http://www.asianmetal.com/news/viewNews.am?newsId=1286252

CRC prices climb up in Malaysia
2016-03-31 08:26:43

BEIJING (Asian Metal) 31 Mar 16 - As steel prices in international market increased sharply in past weeks and are standing high at the moment, CRC prices in Malaysia go up further at the moment. The current price of CRC SPCC 1.0mm*1,219mm*C is MYR2,150/t (USD548/t) with GST excluded, up by MYR50-100/t (USD13-25/t) compared with that of last week. Insiders predict it is likely that CRC prices will rise further in the near future.

A trader in Kuala Lumpur said the current price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, increasing by MYR100/t (USD25/t) compared with that of last week. “Prices rebounded by around MYR150/t (USD38/t) in past two weeks,” he said. According to the source, Malaysian government has been very strict with imported HRC recently. In addition, Malaysia began to collect 6.35%-25.4% anti-dumping tax for imported HRC from China in February. As a consequence, prices of HRC, the raw material for CRC, continued to climb up in past three weeks.

The source revealed that local steel mills do not hold many stocks for CRC at the moment, causing a relatively tight supply. He has 200 tons in hand for the time being, while his regular level was about 400 tons in past months. “Some customers can accept the current price but some others prefer to watch the market,” he said, adding that he sold 250 tons in March, while it was only 100 tons in February.

A trader in Penang told Asian Metal that the price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, up by MYR50/t (USD13/t) compared with that of last week. The source pointed that Megasteel’s supply to local market is very tight at the moment and the mill limited some traders’ buying quantity in past days.

Holding an inventory of 150 tons against the regular level of 250 tons, the source is not eager to sell materials at the moment, predicting a further price increase in the short term. He revealed that his sales volume is about 100 tons in the latter half of this month, when prices showed an upward trend, which is a little higher than that of 70 tons in the former half. In his opinion, if prices continue to go up, the market will perform inactively but customers will gradually accept the current higher price level in the future.

hi 891088, why today is bullish? Mind to share your opinion?

hi trustme932, after correction will it be further move upward?

just wondering why the selling pressure is still there?

Hi all,
Buy in for reversal forming, it start at glove counter already

What is the problem cause the share price drop?

Hi wei8, be patient. If the market stable, sure the intrinsic value will surface up.

if the price support at 0.87 and above, it is possible to break 0.90 by today.

Buy n hold will be the best strategy at this volatile market.
Chart wise look like the current price is stable
Mostly was due to oil price hold at USD35 at current level

When is the qtr report out?

Buy on average cannot cover the price, mostly due to bad market sentiment

export related counter have open leg...

klse.i3investor.com/blogs/tradeview/90224.jsp

Rebound soon...

Anticipate drop so much to 0.70???

EG...oh my EG... When can have technical rebound?

Any IB issue a new warrant will dilute the previous call warrant pricing to drop more, Really high risk to play call warrant

intrinsic value still there after massive sell down, any price < RM1 still a good buy

look like today supermax still able to hold with this volatile market

hi 1155023541, what price u grab today?

what is your view on FBMKLCI-H5?

hi simon, welcome back.

Hi crystal 168, I still holding as well. Just enjoy the dividend payout next week. Since we cannot estimate what will be the impact in next week. Still ride on the export theme better still at this market uncertainty

today support will close at 0.76, it is good sign that this share is not control by syndicate with no pump and dump phenomenon. Forecast next resistance will break by 0.815 by next week.

Consolidate phase in clear with strong queue buy at 0.765

sudden spike with volume...good sign

hi yoda88, look like today have some momentum to stay above 77sen.
1st TP : 77sen (possible for today closing price)
2nd TP : 80sen
3rd TP : 83sen

let hope for this happen, cheers...

Hi Rosmah, what is the entry price?
now PE is 13. Slighlty lower if compare to previous 20.

The more it the selling price, the high momentum derive for strong rebound to challenge the resistance at 0.85 - 0.90.

Previously when the price fall from 0.70 to 0.60 it bounce to 0.80 and above.Therefore, with the same pattern, it will cross to 0.80 as still bullish in SMA 10.

i think 70sen is the support already, should be the entry price for 70sen as support...

suddenly all eat 32sen will 5mil shares in 1 min

wait for 4pm after see wether can break 0.33...

Current entry price is worth for holding. Still could enjoy the dividend. Strong support could see at 0.74

In order to enlarge the market cap, it will move toward RM 1 and above for prepare transfer to main board.

look like recent spike is reflect the good result in coming qtr report.

come in sudden with volume spike!!!
any good news?

UMA can still buy if price is lower

hi kahfai211, i bought at 0.74. Should be no worry. As long as the CAPEX is on going at Gua Musang on time. Current capacity is >90% with 20 line. With the newly Gua Musang plant will able to support 27 line. Let keep it.

There is no loss making for this company, Qtr profit still +ve.
May be the shareholders is press down the price to accumulate at this negative market sentiment. It will slowly up when market sentiment is improve by next week latest.

hi Rosmah, whhat is your estimate short term TP ?