Steel sector in vogue

TheStar Sat, Dec 05, 2020 08:50am - 3 years View Original


According to Rakuten Trade Research vice-president Vincent Lau, trading interest in the shares of steel companies could be tied to a rotational play in the market.

SHARE prices of local steel companies have rallied over the past week, on the back of select companies performing well in the third quarter of the year and expectations of more construction activity to come.

As highlighted in the Economic Outlook Report 2021, the construction sector is poised to grow an estimated 13.9% next year from an 18.7% contraction in 2020, to be driven by the acceleration and revival of major infrastructure projects, as well as affordable housing projects.

According to Rakuten Trade Research vice-president Vincent Lau, trading interest in the shares of steel companies could be tied to a rotational play in the market.

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