By Marina Emmanuel LOCAL steelmaker Southern Steel Bhd is cautiously optimistic of a rebound in steel prices come early next year.

SOUTHERN Steel Bhd quadrupled its second quarter net profit due to higher steel prices and it tripled the dividend payout for that period. The company, ultimately owned by India's Tata Steel, expects satisfactory results for the full year that ends on December 31.

By S.N. Lock SHARE prices on Bursa Malaysia extended their follow-through rebounds last week. The Kuala Lumpur Composite Index (KLCI) continued to stay above its major psychological support of 1,100 when it closed at 1,159.10 points last Friday.

LOCAL steel millers' profit margins are set to improve further in the coming quarters due to the two-month delivery lag. However, such a trend is unlikely to sustain as part of these variances were caused by timing differences between cheaper raw materials against higher selling prices.

By S.N. Lock SHARE prices on Bursa Malaysia extended their consolidations last week. The Kuala Lumpur Composite Index (KLCI) continued to stay below the support of its major psychological support of 1,400 last Friday.