7058 replies to this topic

[Godfather]

Zero hedge, you could look at this as a way to say that there should be more demand then for imported material

[Zero Hedge]

and this is why you have to be careful on KIO for next couple of months...

 

 

China's Highsee Iron And Steel Group Possibly Facing Bankruptcy:

China’s largest private steel maker has failed to repay a 3 billion yuan ($3.75 billion) debt, which means yet another high-profile company in China will likely face bankruptcy.

According to the 21st Century Business Herald, "Highsee Group's 3 billion yuan debt was overdue last week. The company is running in red, and has failed to pay workers for months. Many of its furnaces have stopped operating." The news comes on the heels of a sharp decrease in domestic steel prices in March, a drop that has brought those prices to their lowest level in more than eight years.

The low numbers are the result of both an increase in output and a decreased demand for steel, The Standard reports.

Highsee Iron and Steel Group Co., Ltd., which is based in Shanxi, China, is just one of numerous steel mills facing issues in the country. Data from the National Bureau of Statistics revealed that China produced 2.22 million tonnes of crude steel a day over the first two months of 2014, Reuters reports. This record amount was manufactured even though demand wasn’t as strong.

Shanxi coal miner Liansheng Resources Group recently went bankrupt as well. But its loans are expected to likely be bailed out. UBS Securities analyst Chen Li warns that more defaults are possible among companies, since it is the peak season for corporate debt dues.

Like Highsee Group, developer Zhejiang Xingrun Real Estate in Ningbo was said to be on the verge of collapse this week. The company reportedly holds a debt of 3.5 billion yuan.

 

http://www.ibtimes.com/chinas-highsee-iron-steel-group-possibly-facing-bankruptcy-report-1562526

[delta66]

my tp currently around 392.00(10%) but its a moving target relative to price/sentiment.  if it drops further and i buy again target will shift lower relative to my ave cost per contract

 

summarized - i want 10%

[Godfather]

Great thz delta i was looking more medium term but there is a support line around 385 so may try ride till then.

Is that the level you are looking as well?

[delta66]

in short term play it makes no diff whatsoever..just my opinion.  fundamentally over medium/long term it could alter the dynamic but not looking that far...hopefully

[Zero Hedge]

I am taking profit on my Long WHL position...in at 60 out at 69 and it paid me a R1 divi as well...all within the space of a month

[Godfather]

Hey Delta.. Thats a big NO..LOL

 

Why does that not bother you? Priced in?

 

[delta66]

Nobody worried about this  "mining Tax" when looking at KIO?

NO

[delta66]

tough call..my view is it'll test lower 340+- before we see confirmed reversal.  wouldn't average down on these levels just yet(if intention is buy back all loss) safer bet adding smaller staggered increments

 

 

[Godfather]

Nobody worried about this  "mining Tax" when looking at KIO?

[Ninja]

Waiting patiently for today to be top on WHL rally...

[BBW]

around 390 but have funds to double and half to around 375

Ditto

[BBW]

sorry BBW never followed that one for last 3 months now!!

OK, looks like they're quite rock-bottom, but not sure how long they gonna stay there... and if they will

Edited by BBW, 20 March 2014 - 11:52 AM.

[snoop]

i'm bullish KIO but my ave. cost now under 357.12 so can afford to be    what is your average cost snoop?

around 390 but have funds to double and half to around 375

[HDB]

What's your view on ACL; any hope for them? 

sorry BBW never followed that one for last 3 months now!!

[BBW]

I like KIO at these levels.. Their  is an issue with iron ore prices dropping to record lows last week, However my view is the weake rand will more than compensate for this. Good company with solid earnings and great dividends!! I will continue to add at these levels and more if it falls. Iron ore prices /problesm will be forgotten in 2 months time and she will go higher again!!

 

Key : buy when everybody else is fearfull!! Maybe another Joshua Doore opportunity here too!!

What's your view on ACL; any hope for them? 

[delta66]

anybody view on KIO 

 

There is the issue of copper - but from research it seems iron is OK.

Sharp drop was market related not iron ore? dragged down by copper issue.

 

Got quite a highish average but would not mind adding lower if I can get confidence back in the share - 

i'm bullish KIO but my ave. cost now under 357.12 so can afford to be    what is your average cost snoop?

[HDB]

anybody view on KIO 

 

There is the issue of copper - but from research it seems iron is OK.

Sharp drop was market related not iron ore? dragged down by copper issue.

 

Got quite a highish average but would not mind adding lower if I can get confidence back in the share - 

 

I like KIO at these levels.. Their  is an issue with iron ore prices dropping to record lows last week, However my view is the weake rand will more than compensate for this. Good company with solid earnings and great dividends!! I will continue to add at these levels and more if it falls. Iron ore prices /problesm will be forgotten in 2 months time and she will go higher again!!

 

Key : buy when everybody else is fearfull!! Maybe another Joshua Doore opportunity here too!!

[snoop]

anybody view on KIO 

 

There is the issue of copper - but from research it seems iron is OK.

Sharp drop was market related not iron ore? dragged down by copper issue.

 

Got quite a highish average but would not mind adding lower if I can get confidence back in the share - 

[delta66]

DSY - in again this morning at 76.90 long for a 4th scalp.

Sell order in at 78.35 for later today. 

 

SL upped on WHL to lock in a small profit, still lusting for 70+ 

 

Nice, its been a good month for me - wish I had a bigger account to make proper bucks.

sweet ..love trading like that(DSY). stick with it.