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On the back of a surging volume in construction and infrastructure projects, demand for steel in China has grown by more than 4 times in the past 2 decades, marking China as the biggest market in the world currently. With the 2008 Olympic Games imminent, the pace of development within China ? especially around the Northern regions ? is intensifying.
Apart from buildings, China is also expected to invest heavily in developing infrastructure such as water networks and transportation systems. One such major project in the pipeline is the ?South to North Water Diversion? project. As mid-width steel strips are optimal for constructing steel pipes, the management has reason to believe that demand for this unique product would remain strong in both the near as well as mid-term future.
Despite the efforts of the Chinese central government to encourage the consolidation of the steel sector, the prospects of a steadily growing demand for steel in China remain bright. Given that China?s annual steel consumption stands at 180 kilograms per head, as compared to over 400 kilograms for developed countries, there is still much room for growth.
Apart from buildings, China is also expected to invest heavily in developing infrastructure such as water networks and transportation systems. One such major project in the pipeline is the ?South to North Water Diversion? project. As mid-width steel strips are optimal for constructing steel pipes, the management has reason to believe that demand for this unique product would remain strong in both the near as well as mid-term future.
Despite the efforts of the Chinese central government to encourage the consolidation of the steel sector, the prospects of a steadily growing demand for steel in China remain bright. Given that China?s annual steel consumption stands at 180 kilograms per head, as compared to over 400 kilograms for developed countries, there is still much room for growth.
Looks to be on uptrend
The "Great Wall of China" is within sight:). Vested from 72 - 77c and some lots above 80c:). Ferrooooooooooooooo CHINA!!!!
The share just chionged to 1.74 , way to go !
Cheong liao ! Good Luck
one of the stocks to be monitored!
Agree....this solid performer will hit the big 2 in no time ;p
There is definitely a lot more meat to this stock
Look at long term.............
not much meat left liao --- the most is can reach 1.71 for the time being
For those vested in growth stocks like FerroChina, just HOLD. Forget about all the corrections....
You will lose out trying to time the stock.....
Key points of this stock:
* Trading at 8.8x 07, while peers trdg at 11.2x.
* PRC govt policy encouraging consolidation-FRC has the scale to become more established.
* Expect M&A, possibly increasing assoc stke in Changshu Everbright or acquiring more steel processing plants.
* FRC could also venture into higher margin steel products such as building auto steel parts for building or autos.
Expects moderate steel px increases in China. This is more a M&A and China play more than a commodities play. Lots of upside considering the near-term catalysts ahead.
Will pass $2 soon..
I'm vested, Good Luck to all!
It can move all the way to the "Great Wall of China!"
no time to monitor and i bought back at 1.69 .. tis counter a-gar can move till how much ?
I have mentioned quite a few times that this stock has tremendous potential for the long term.There is no point buy sell buy sell..........
Hi Livermore and Singaporegalelite , I juz contra mine at 1.66 tis evening considering it could be a speculative news as what zhuge_liang mentioned.
Tks for the advise ! Perhaps buy in tom at low point for little kopi $ ?
Jumped on talks that it was at a corporate roadshow to meet investors.
Me too holding ferrochina shares for long term. Went in at 1.31, 22 lots.
Hi Marky27,
If you already have FerroChina shares, just hold for long term....
Hi marky27,
I don't see a trend reversal on the charts yet. Be cautious.
I don't see a trend reversal on the charts yet. Be cautious.