@OTB, China overall steel production increase 10% for the month of may despite closure of many mills with improve efficiency, many existing mills capitalize on the price increase to make additional profit. In Malaysia all the steel mills will do the same, I understand southern steel is running 3 full shifts now.
Shanghai rebar jumps to 5-year high on strong demand, tight supply Naveen Thukral 3 MIN READ
SINGAPORE (Reuters) - China’s construction steel rebar prices rose more than 3 percent on Friday to their highest since February 2013, buoyed by strong demand, dwindling stocks and signs of more production curbs in the country’s top steelmaking center.
The most-active rebar contract on the Shanghai Futures Exchange ended up 3.1 percent at 4,126 yuan ($606.54) a tonne, its highest close since Feb. 18 2013.
The market has been betting on tighter supplies due to stringent production curbs in Tangshan, the country’s top steelmaking city in Hebei province, which has imposed a series of temporary restrictions this month.
Industry website SMM reported on Friday that all sintering machines and shaft furnaces in Tangshan would have to shut down from noon on July 27 until midnight on July 31 due to pollution, sending prices higher.
Falling inventories were also fuelling the rally. Chinese steel product inventories fell by 104,700 tonnes to 9.89 million tonnes as of Friday from a week earlier, data from Mysteel consultancy showed.
Stocks of construction steel rebar fell by 1.8 percent to 4.48 million tonnes and hot-rolled coil stocks slipped by 0.7 percent to 2.11 million tonnes.
Iron ore on the Dalian Commodity Exchange rose as much as 3.7 percent on Friday to its highest since May 15 before closing up 3.5 percent at 491.5 yuan a tonne.
Spot iron ore for delivery to China rose 0.4 percent to $66.3 a tonne on Thursday, according to Metal Bulletin.
Other steelmaking materials also advanced on Friday. Coke ended up 4.1 percent at 2,221 yuan a tonne, its highest close since March 1, and coking coal ended up 0.4 percent at 1,195.50 yuan a tonne.
For the week, rebar posted a gain of 2.2 percent while iron ore added 3.4 percent.
“The China Iron & Steel Association warned that the industry had enjoyed much stability in the first half, however it warned that this wasn’t guaranteed to continue,” ANZ said in a note.
“It did point out that demand remains strong, with production at high levels, which is forcing inventories to fall.”
Trump will make you all DOWN MODE , CRISIS IS FITTED , not matter how good the CHINA STEEL BAR JUMP UP , IS NONSENSE < WAR , WHO BUY YOUR STEEL < Possible hell king son press purchase .kikikikiki, BUILD A HELL BIG EMPEROR possible .HHHHAHHAHAHH
ONE MONTH LATER!! I could have profited lot of money already..
Currently US economic is tip top.. even with Trumps problem, the US economic will not crash within short term (let say 3 months). By the time we already profited and holidaying at Hawaii. As for China, they are still under control at this moment, moreover china is a close economic..
I thought not drop 10 cents today someone will delete his account?
Interest stuff to heard from brother dagnarus , he since quite particular every single comment of me , being he really put hardship on my penetration on Masteel , as he say Masteel not direct due business with US , the portion export is little , i try to correct him , actually masteel this latest 6 years profit earn all from oversea market purchase order , it take 85% the BIG percentage , please refer the notice in annual report analyst , i hate those want to show weapon , but just empty tin fellow , survey market first , k1234 card first , only comment .
quickly action , take and SIDE LINE , i feel the crashed is coming , trump is mad action , he is work hard on it , he is not joke , fight mean fight , rule and regulation apply , he need to defense his decision , otherwise he need step down , MASTEEL is totally effected .
Khatulistiwa. I am calling your bluff and declare that you are a sham of a person. By claiming that Masteel earning is majority from overseas order simply means that you DID NOT READ ITS ANNUAL REPORT. NO investor worth their salt will comment about a company's fundamental without reading its annual report. Not only that you also have given a guarantee that MASTEEL will lose 10 Sen on Friday, and it obviously did not happen as it closed unchanged. Again, no trader worth their salt will guarantee anything with regards to price action. So if you are not a trader or an investor, what are you? A scam. A conman. A good for nothing degenerate that should stop commenting on this forum. Stop misleading people with your false calls and comments.
If you read the report you will notice this sentence on page 19 of the 2017 annual report.
The steel tariff of 25% announced by Donald Trump’s administration in early 2018 is not expected to have a substantial effect on the Company as Masteel does not export its steel bars to the USA. Export sales only constitutes 2.50% of total sales for FYE 2017.
Obviously the members of the board can check it for themselves and this will reveal who is actually telling the truth.
khatulistiwa1234 Interest stuff to heard from brother dagnarus , he since quite particular every single comment of me , being he really put hardship on my penetration on Masteel , as he say Masteel not direct due business with US , the portion export is little , i try to correct him , actually masteel this latest 6 years profit earn all from oversea market purchase order , it take 85% the BIG percentage , please refer the notice in annual report analyst , i hate those want to show weapon , but just empty tin fellow , survey market first , k1234 card first , only comment .
If believe on dagnarus , don't need work , full time BURSA already , current situation , syndicate find way to RUN < syndicate all STUNT on this stock .
I even guarantee again , the higher is 0.745 , not more higher any more , they all will surrender , the chasing is little , cannot cover their managerial cost , reverse back to 0.555 is fitted , before down to 0.50
CASINO GAME , i hardly avoid , if you point the GUN ahead my head also , i refuse to join , GAMBLE take away a lot of GOOD FAMILY , they suffer big lose , family break and divorce the wife , leave the children with not complete harmony background , if you there , i invited you continue , i suggest follow me to safe place , L&G such criteria , guarantee win nature , all corner look , it worth than put saving in bank , and also fixed deposit , i smell the WAVE is near , is the most important key element .kikiki
BUY on fundamental stock , only up ward trace counter , rather put on too speculative stock , MASTEEL , you never know the water temperature , HOT or COOL all depend on syndicate , you actually hanging a BOMB in the neck , once wrong channel , suffer holding .
Lol. Damn khatulistiwa asking people to avoid gambling stock then go on and promote L&G. Seriously, I am not even sure if you are just trolling or plain ignorant.. or maybe stuck in that stock
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....
ken
673 posts
Posted by ken > 2018-07-27 10:34 | Report Abuse
Yes, support dagnarus… if didn't happen, delete your account.