Steel Update

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 154.6 million tons (Mt) in July 2018, a 5.8% increase compared to July 2017.

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Merger of JPRS-GDST

Investors were focused on buying the shares of steel producers, Jaya Pari Steel (JPRS) and Gunawan Dianjaya Steel (GDST) this morning following the announcement of the merger of both companies. At 10.21 a.m. Jakarta time, JPRS gained 34.69% to Rp198 per share and GDST gained 34.96% to Rp147. JPRS traded flat at Rp135 during January to early April this year, and started gaining since April. Buying appetite of investors is better for GDST as the stock makes consistent gain this year.

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