Steel companies in focus include Southern Steel Bhd, which gained six sen to close at RM2.43; Malaysia Steel Works (KL) Bhd, which firmed up five sen to RM1.61; and Ann Joo Resources Bhd(pic), which remained unchanged at RM3.68. Ann Joo, for example, saw its share price tripling over the past two years, said analysts.
PETALING JAYA: AmInvestment Bank Research remains sanguine on the domestic steel industry, largely underpinned by the expected strong demand for steel moving forward.
The research house, which maintained its “overweight” stance on the steel sector, expects local demand to pick up following the roll-out of mega infrastructure projects such as rail-related projects and township development.
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