CSC Steel Holdings Bhd faces an uncertain outlook amid challenging market conditions, prompting TA Securities to downgrade the stock to 'sell' following disappointing second-quarter results. The firm cited a prolonged slump in China's real estate sector, reduced infrastructure spending, and increased competition from low-cost imports as factors contributing to depressed global steel prices. Shares of CSC Steel fell 3.2% to RM1.22, marking a significant decline of over 18% from its peak earlier this year. TA Securities has revised its earnings forecast for the company, reflecting lower utilization rates and average selling prices.
