PETALING JAYA: Earnings of local steel players are expected to remain lacklustre, as the weak demand environment continues to persist.

UOB KayHian Research said it expects demand for steel to remain soft for now, with the possibility of gradual recovery at the end of the year.

The research house, which maintained its “underweight” call on the sector, pending the emergence of clear catalysts, noted that local steel prices had risen for the second consecutive month in April 2019.

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