Steel stocks roar again

These include Melewar Industrial Group Bhd, Malaysia Steel Works (KL) Bhd (Masteel), Hiap Teck Venture Bhd, Lion Industries Corp Bhd and Mestron Holdings Bhd.

PETALING JAYA: Steel-related counters on Bursa Malaysia began the week with further big gains after the government announced the second round of anti-dumping duties on foreign steel products in less than a week.

With the fresh anti-dumping duties, investors seem to be expecting an improvement in demand for locally-made steel products, which could further support the earnings recovery in the steel sector moving into 2021.