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 Holdings Bhd unchanged at 42 sen
The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.
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 up four sen at RM1.08
The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.
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 Kita Bhd – rose one sen at 12.5 sen
Leon Fuat Bhd – rose three sen at 59.5 sen