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KUALA LUMPUR: Bursa Malaysia opened higher on Friday, boosted by Wall Street's overnight rally, as U.S. jobs data eased recession fears among investors.
Mining and ferroalloy smelting group OM Holdings Ltd (KL:OMH), a dual-listed company on the Australian Securities Exchange and Bursa Malaysia, is expecting better earnings this year, amid higher prices and increased production volume.
Ferrosilicon (FeSi) prices have inched upwards in recent weeks, following a Chinese customs crackdown on tax evasion, which led to temporary supply limitations. Prices closed at US$1,315 (RM6,009) per metric ton (MT) on July 24, said Adrian Low, the managing director of OMH’s wholly owned unit based in Singapore, OM Materials (S) Pte Ltd.
Manganese increased 13.50 CNY/mtu or 46.15% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.