26
May
10:35
Ann Joo profits from Malaysian steel shortage
Malaysian Steelmaker Ann Joo Resources saw its profit expand in the first quarter, despite falling revenues, thanks to a shortage of steel. It expects demand to pick up in the second half as major infrastructure projects begin, Kallanish notes.
Over January-March 2016, the company recorded a net profit of MYR 5.52 million ($1.34m), up 3.66% year-on-year. Revenues meanwhile were down -5.98% to MYR 489.53m over the same period.
Thanks to increased Malaysian pro…
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Anonymous
Very good overview of the weekly steel market.
Anonymous