Steel Stocks Continue to Rise on Expected of Robust 2Q Earnings, INOX Leads Gain

The Steel Index (STEEL) edged 1.98% higher or +0.92 points to 47.49 points in the morning session of July 15, 2021, on speculation as companies in this sector prepare to publish their second-quarter fiscal year 2021 financial results. Earnings are expected to maintain their trend from 1Q21.

Posco-Thainox Public Company Limited (INOX) rose ฿0.08/share or 6.45% to ฿1.32/share with a trading value of 365 million baht.

Samchai Steel Industries Public Company Limited (SAM) rose ฿0.07/share or 5.79% to ฿1.28/share with a trading value of 13 million baht.

Tata Steel (Thailand) Public Company Limited (TSTH) rose ฿0.06/share or 3.53% to ฿1.76/share with a trading value of 260 million baht.

Krungthai Zmico Securities stated that stocks in Steel sector edged higher recently due to a speculation on strong earnings outlook in 2Q21 as those companies are expected to announce their financial results within next week.