Despite the market rally that took place in most part of this year, share prices of steel-related counters have largely stagnated as investors stayed away from the sector.
Yesterday, Masteel jumped 34.58% to 72 sen, its highest in over two years, while Lion Industries gained 17.46% to 74 sen, its highest since mid-2018.Mycron Steel BhdMelewar surged by 74.63% to 58.5 sen, Mestron Holdings Bhd gained 10.26% to 21.5 sen, Mycron Steel Bhd rose by 52.69% to 71 sen and Hiap Teck was up by 5.49% to 48 sen., leapt by 12.24% to RM1.65 per share.
The International Trade and Industry Ministry said it had completed the preliminary determination of the anti-dumping investigation concerning imports of the subject merchandise originating or exported from the alleged countries and found there was sufficient evidence for further investigation.
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