The price of steel has been moving up lately due to higher cost of iron ore and coking coal. If the increasing price trend is sustainable, this will bode well for the Group in the coming quarter.
Iron ore hike (raw material) ----> hot rolled steel hike ----> cold rolled steel hike.
Remark: CSC steel is market leader, supply as much as 60% of local demand for cold rolled steel. In the current hike, It have power to not only pass through cost to customer, but to reap higher profit margin in next q result.
In Q2 result, CSC steel track other hot rolled steel stock, report lower profit due to lower selling price and lower demand. In the next coming quarter, CSC steel will also track other hot steel stock on earning recovery
I can say that CSC STEEL is one of the WORST profit-running steel manufacturing company in Malaysia in terms of share price performance.
Steel manufacturing company that are running profitably such as ANNJOO, MASTEEL, PMETAL, SSTEEL, has their financial performance reflected in their share price and most of them had increased more than 50%, EXCEPT THIS CSC STEEL.
STILL SLEEPING!
AFTER THE POSITIVE OUTLOOK AT 1.80-1.83, AND DROP BACK NEAR TO 1.70. NOT EVEN MAINTAINING AT 1.8. HOPELESS!
The share price is already very depressed. Almost everyday, there are brainless seller queue to sell in large quantities and when BUY RATE is high, the share price is not moving dramatically, but when BUY RATE is low, the price drops depressely.
Even HIAPTECK announced their financial statement in an INCREASED LOSS. The share price still stands steadily near 40 sen. Not heavily affected from its loss financial position. Otherwise, I forecast HIAPTECK now should be trading around 30 to 33 sen. BUT NO...
I DON'T UNDERSTAND WHY CSC STEEL IS STILL TRADING AT 1.7-1.8?
IS THIS COMPANY REALLY USELESS OR WORTHLESS?
CSC STEEL IS ONE OF THE WORST PROFIT-RUNNING STEEL MANUFACTURING COMPANY IN MALAYSIA IN TERMS OF SHARE PRICE PERFORMANCE.
No worries, The price was eventually back to 1.73, means that it has a support to perform the comeback after opening low and which the lowest of the day was 1.70!
no doubt, the price performance is less appealing, but being emotional wont help how the market works. if u have confidence with it, then hold.If u dont, sell it. spread negativity wont help.
Many of the shareholders of CSC STEEL are also very unsatisfied with the current share price and get emotional, not only me.
If I'm emotional, I would had already disposed off all my CSC STEEL share.
My stakes in CSC still remain unchanged for months.
I am just expressing my disappointment investing in this CSC STEEL which is the WORST PROFIT-RUNNING STEEL MANUFACTURING COMPANY IN MALAYSIA IN TERMS OF SHARE PRICE PERFORMANCE.
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....
chickenriceseller
165 posts
Posted by chickenriceseller > 2017-08-28 10:30 | Report Abuse
just did intraday profit...1.65 sell 1.68....enough for me buy chatime and ramly burger for dinner....