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AFTER a strong 2021, thanks to higher selling prices, many steel producers could be looking at compressed margins and a normalisation in selling prices this year.
ACCORDING to the Malaysia Steel Institute, an inadequate global supply of raw materials — specifically, iron ore and steel scrap — because of the Covid-19 pandemic led to a surge in steel prices since the fourth quarter of last year. A recent report by Fitch Solutions Country Risk and Industry Research notes, however, that the iron rally has ended and prices have collapsed as supply of the commodity improved and demand growth slowed.
The stocks with positive momentum were: ATTA Global Group Bhd — down 2.5 sen at 57.5 sen Golden Pharos Bhd — unchanged at 39.5 sen Nylex (M) Bhd — down 2.5 sen at 86.5 sen The stocks with negative momentum were: Chuan Huat Resources Bhd — down five sen at 58.5 sen Fibon Bhd — up 1.5 sen at 47.5 sen Leon Fuat Bhd — up 10 sen at RM1.10 PA Resources Bhd — down one sen at 53.5 sen Selangor Dredging Bhd — down two sen at 73.5 sen Tashin Holdings Bhd — down five sen at 78.5 sen Turbo-Mech Bhd — unchanged at 86.5 sen Watta Holdings Bhd — up five sen at 73.5 sen YLI Hold...
The stocks with positive momentum were: Signature International Bhd — up 15.5 sen at 66.5 sen Lion Posim Bhd — up 12.5 sen at 69.5 sen The stocks with negative momentum were: Melewar Industrial Bhd — up four sen 55.5 sen CSC Steel Holdings Bhd — up three sen at RM1.39 Complete Logistics Services Bhd — up 23 sen at RM1.54 Leon Fuat Bhd — up five sen at 68.5 sen Pimpinan Ehsan Bhd — down nine sen at RM1.84 Country Heights Holdings Bhd — unchanged at RM1.46 YLI Holdings Bhd — up four sen at 44.5 sen Uchi Technologies Bhd — up 28 sen at RM3.35 Prestar Resources Bhd —...
The stock with positive momentum was: Edaran Bhd – rose nine sen at 61.5 sen The stocks with negative momentum were: Bumi Armada Bhd – rose 1.5 sen at 39.5 sen CAB Cakaran Corp Bhd – unchanged at 47.5 sen Censof Holdings Bhd – rose 8.5 sen at 38 sen Cheetah Holdings Bhd – rose eight sen at RM1.17 CNI Holdings Bhd – rose 2.5 sen at 12.5 sen Cuscapi Bhd – rose six sen at 29 sen Dagang NeXchange Bhd (DNeX) – rose 11.5 sen at 66.5 sen Dynaciate Group Bhd – unchanged at 13 sen Fajarbaru Builder Group Bhd – rose seven sen at 62.5 sen Fibon Bhd – rose 3.5 sen at 45.5 sen Jasa ...