Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin traded at $150 a tonne, slightly above a 9-month low of $139.5 as sentiment over demand was lifted by news that the latest Covid-19 outbreak in China was under control. Yet, iron ore prices remain more than 30% below a record high of $230 hit in May amid curbs on steel production in China and improved supply outlook. Steel producers in Anhui, Gansu, Fujian, Jiangsu, Jiangxi, Shandong, and Yunnan provinces were told to limit their production to 2020 volumes amid China’s efforts to curb carbon emissions. Meantime, shipment volumes from Australia, the biggest supplier to top steel producer China usually improve in the last quarter.
Shanghai steel futures bounced back to above CNY 5,100 a tonne in late August, after hitting a one-month low of CNY4940 last week, as demand concerns eased after China reported no new coronavirus cases for the first time since July, a sign the current outbreak in the country may be waning. China is by far the largest producer and consumer of steel. Still, steel prices remain well below a record high of CNY 6198 a tonne reached in May, as China pledged to limit crude steel output in 2021 at no higher than 1.065 billion tonnes it made last year. Meanwhile, China's domestically-produced iron ore concentrates slipped for a 4th week on August 16-20, amid lower demand from Chinese mills due to lower steel output, according to Mysteel.
It is clear with the Shanghai steel price coming down and we'll of the peak, that the recovery for the steel sector is not coming and may be in jeopardy
What is for sure to recover is the numbawan top pick Shure win stock of 2021 the Year of the Golden Ox Genting (3182). One only needs to look at the roads and the malls to know that the Recovery is inevitable. Mankind has and will, always prevail
From the bottom of my heart, I hope you will make the right decision instead of being once more being too late to the party and massive growth of Genting and stuck with massive losses as you have kindly shared with all of us
since when hiap teck mine iron ore? and since when the other steel companies you mentioned don't produce their own steel? uncle almost 90 years old still want to tell lies and mislead others? get a better life and don't be a gay boy haha.
Uncle KYY, did you get permission from OTB to use his name here?? I understand OTB said he want to stay FAR FAR from you. Now both of you are good friends? OMG. I am confused !!!
Do not forget -- a month ago KYY said "Investors with some common sense should know that Hiap Teck will surely report reduced profit in the next few quarters."
As you can see, Genting (3182) is rising. And the reason is simple - markets are forward looking. Do not be too late to the greatest supercycle superbull run in the history of the KLCI.
It is clear with the Shanghai steel price coming down and well off the peak, that the recovery for the steel sector is not coming and may be in jeopardy
What is for sure to recover is the numbawan top pick Shure win stock of 2021 the Year of the Golden Ox Genting (3182). One only needs to look at the roads and the malls to know that the Recovery is inevitable. Mankind has, and will, forever prevail
From the bottom of my heart, I hope you will make the right decision instead of being once again too late to the party and massive growth of Genting and stuck with massive losses as you have kindly shared with all of us
To quote a line from this dubious attempt of a stock recommendation...."Its latest EPS was 4.79 sen for the quarter ending April and its ESP for its previous quarter ending January was only 2.21 sen, an increase of more than 200%. "
200% increase in profit? We obviously went to different schools :)
citadel, its actually not him posting these articles. he has an investment office called kyy capital and he hires a few staff to meet companies and write all these rubbish. very young staff, i've met some of them before. won't be nice to disclose identities but if they continue trying to cheat the public, i may do that.
I need to clarify here. I have no relationship with Mr Koon, I will stay away from him. Please do not group me with him.
I will focus on my group and I will not post any article here. I post my article on Hiaptek in I3 because Mr Koon attacked me. My subscribers wanted me to clarify it.
The above article is written by me with facts and figures. Anyone can challenge me if the above article is not written with facts and figures. I invest in this stock as a long term investment. I do not care about short term price fluctuation, I will hold this stock until September 2022 to win big. The downside risk is small and huge upside if foreign funds or local institutional funds are buying. The share price will increase slowly because the paid up capital is big. Thank you.
Lion Industries refurbishes plant in Banting Tan Siew Mung / theedgemarkets.com
August 18, 2021 18:13 pm +08 Lion Industries refurbishes plant in Banting
KUALA LUMPUR (Aug 18): Lion Industries Corp Bhd said today its hot rolled coil (HRC) plant in Banting, Selangor is undergoing repair and refurbishment.
The plant, which has a rated annual capacity of 3.2 million tonnes of HRC, is expected to be ready to commence production in December, ramping up to full production by February 2022, the group said in a statement.
HRC is used to produce a wide range of steel products such as highway guardrails, water pipes, high pressure vessels and gas cylinders, vehicle chassis and parts, and is also used to produce cold rolled coils.
Lion Industries is also undertaking modification work at its steel plant in Pasir Gudang, Johor which produces billets, and steel bars and sections.
The plant is targeted to commence production early next year, in January or February.
It has a rated annual capacity of 720,000 tonnes for production of billets, bars and sections which are used in the construction and downstream manufacturing industries.
Lion Industries said its steel operations will continue to support the local downstream manufacturers through its supply of both flat and long steel products that are required for the country’s industrialisation programme.
The group, in its statement, stressed that the steel industry is deemed a strategic industry by the government as it supplies essential raw materials to a host of industries, thus deepening and widening the manufacturing base.
Lion Industries’ share price closed 0.5 sen or 0.89% lower at 55.5 sen, valuing the group at RM402.02 million.
Read this article to know the whole truth about chart cropping intentionally to show just the upside part and left out the downside parts by copy and paste the website at the bottom of the article... into your browser.
If someone doesn't pay their debt, along macai will harass him kawkaw and throw red paint. If KYY is really a cheat and made u lose money, why no one go after him and play along to him in Ipoh. Conclusion: KYY is not a cheat. Hahaha. 为什么这么荒唐。
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....
abang_misai
2,573 posts
Posted by abang_misai > 2021-08-29 20:09 | Report Abuse
Haha. Of course must go up or Koon will kena margin calls