Among big caps, Press Metal Aluminium Holdings Bhd rose 5 sen or 0.75% to RM6.70. However, revenue rose 12.62% q-o-q to RM110.04 million, from RM97.71 million. Outlook improvesIn the steel industry, prices of iron ore and coking coal have rebounded by around 60% from its November 2021 low. This year alone, the SGX TSI iron ore futures rose 14% at US$138.15/mt. Fitch Solutions on Feb 21 has sharply revised upwards its iron ore price forecasts for this year to US$120/tonne from US$90/tonne previously.
