Steel stocks mixed on US steel, aluminium tariffs
12 Mar 2018 / 12:31 H.
PETALING JAYA: Steel counters were mixed this morning following the implementation of 25% and 10% tariffs on imported steel and aluminium announced by the United States last week.
Malaysia Steel Works (KL) Bhd, which one of the most actively-traded stocks, was unchanged at 96.5 sen, while Ann Joo Resources Bhd dipped 10 sen or 2.88% to RM3.37 sen.
Southern Steel Bhd fell two sen or 0.99% to RM1.99, while Mycron Steel Bhd slipped half a sen or 1.16% to 42.5 sen following the news.
However, other steel-based counters recorded gains this morning, such as Press Metal Aluminium Holdings Bhd jumping 3 sen or 0.60% to RM5, while Prestar Resources Bhd and Atta Global Group Bhd climbed up two sen and one sen, to 96.5 sen and 93 sen, respectively.