Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
Ann Joo to benefit big-time from India coal shortage and China power outage? The energy outage has forced some steelmakers overseas to temporarily shut down electric arc furnace, thus creating very tight supply for steel. In addition, 4Q is normally very high demand season for steel as China gets past rainy season and reenters construction and manufacturing peak period. These factors have caused steel price to shoot up recently. Steelmaking spreads (i.e. profit margin) of steelmakers are also sky high now as a result, even higher than 2017. Ann Joo almost hit RM4 in 2017 but now it's only at RM2.65!
