CSC Steel to gain from rising steel prices
Ng Wai Mun | 09 Mar 2018 00:30
The company’s share price fell despite higher prices for steel-related products
The recent proposal by US President Donald Trump to raise tariff rates of steel imports by as much as 25% and 10% for aluminium, has driven share prices of local steel companies further down. 

However, analysts do not expect the proposed tariff hike to have a major impact on domestic steel players, as the bulk of their sales revenue is domestic-driven.

CSC Steel Holdings Bhd, whose share price has been falling since January last year, shed six sen on March 5 to close at RM1.40. This has caught the attention of market observers who see the counter as a bargain.

Analysts point out that steel price has risen recently and this could benefit CSC.