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.
KUALA LUMPUR: Bursa Malaysia ended the morning session in the negative territory as investors took profit ahead of Bank Negara’s overnight policy rate (OPR) meeting on Thursday.
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.
KUALA LUMPUR, Oct 28 Bursa Malaysia remained lower at mid-afternoon today as cautious sentiment continued to prevail. At 3.05pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 13.51 points to 1,569.57 from Wednesday’s close of 1,583.08. It had opened 2.0 points weaker at 1,581.08..
KUALA LUMPUR, Oct 27 Bursa Malaysia remained lower at mid-afternoon today as the cautious sentiment persisted. At 3.05pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.49 points to 1,582.71 from yesterday's close of 1,584.20. It opened 3.02 points higher at 1,587.22. Market breadth.