Steel Sector On Shaky Ground
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Latest statistics point to a decrease of 3% y-o-y globally for finished steel consumption in 2015. Efforts by China to restructure its steel sector and anti-dumping measures imposed are beginning to yield results. However, ASEAN steel players are still languishing, with earnings under pressure. Lee Eun Young of DBS Bank expects further M&As in the industry, as the industry consolidates to rebalance global supply.
Top picks include POSCO and Hyundai Steel.
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