High Trading Volume in MCS after Acquiring 3 Projects and Rebasing of Steel Price
MCS has high trading volume in today's trading session, following the acquisition of three projects and the stabilization of steel price.
M.C.S. Steel Public Company Limited (MCS) announced a new acquisition of three projects at a total amount of 56,000 tonnes as follows;
1) A contract from Kajima Corporation with a project amount of 20,000 tonnes.
2) A contract from Shimizu Corporation with a project amount of 14,800 tonnes.
3) A contract from Obayashi Corporation with a project amount of 21,600 tonnes.
The share price rose ฿0.20/share or 1.33% to ฿15.20/share earlier in the morning before edging lower to remain flat as of 10:47 local time in Thailand on June 7, 2021.
However, the trading volume was much higher than its usual trading volume. MCS has a trading volume of 7.5 million shares at the moment, compared to 1-5 million shares on a normal trading day.
The share has been on a rise since last Friday when MCS closed 4.17% higher at ฿15.00/share with a trading volume of 20.4 million shares.
In the meantime, steel prices started to stabilize in a rebasing movement at CNY5,701/ton after falling from a record high of CNY6,654/ton in May.