Commodities rally seen having minimal impact on local companies
THE rally in commodity prices, specifically raw sugar and iron ore, is expected to have neutral impact on local companies using the raw materials in their production.
This is because, according to the Malaysian Iron and Steel Industry Federation (Misif) president Datuk Soh Thian Lai, the iron ore price rally is generally influenced by China’s re-stocking exercise.
“The impact on us will be minimal. Iron ore price prices between US$50 per tonne to US$60 per tonne is still manageable.
“It is because of China’s restocking in the last few month and not increase in consumption,” he tells StarBizWeek.
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