Steel Sector On Shaky Ground
Lee Eun-Young, Equity Analyst, DBS Bank
Latest statistics point to a decrease of 3% y-o-y globally for finished steel consumption in 2015. Efforts by China to restructure its steel sector and anti-dumping measures imposed are beginning to yield results. However, ASEAN steel players are still languishing, with earnings under pressure. Lee Eun Young of DBS Bank expects further M&As in the industry, as the industry consolidates to rebalance global supply.
Top picks include POSCO and Hyundai Steel.
Download the BFM mobile app. Stay at home and stay up-to-date.