OMH a strong BUY, page-267

OM Sarawak will come out of this China Coronaviris induced recession much stronger, China themselves are already back to near full production.
The exchange rate is definitely working in OM Sarawak's favour as seen from these copy and paste exchange rate charts.
The Aussie dollar is at extreme lows compared with the USD$.  Ferro alloys are priced in USD$.



Ferro alloys sold in Europe will be paid in Euros.



Many of OM Sarawak production costs will be in Malaysian Ringgt



This is like a 10% to 20% tailwind.  This is adding to OM Sarawak competitiveness in Europe due to lower power costs, and whilst some steel production is being shutdown so is Europe's ferro alloy production. Lately the price has been going up.

"So far, there has not been any extra availability of manganese alloys, and prices for high-carbon ferro-manganese and silico-manganese actually increased on greater buying."

"One ferro-alloy producer in France said there were currently no plans to alter output, despite cancelled deliveries, because they expect a surge in demand when quarantine measures end."

"Some large producers have not ordered any halts. Thyssenkrupp and Saltzgitter — which both purchase several thousand tonnes of manganese flake each quarter and a range of ferro-alloys — have not closed any plants to date. Germany has quarantine measures in place and there are queues at several of it border crossings.
The closures come in response to a wave of production halts at carmakers in Europe. PSA group, Volkswagen and Fiat Chrysler, the three largest producers, all halted operations at several factories early in the week. Low demand in other sectors also impacted the decision.
A ferro-alloys trader said shutting furnaces was a "catastrophe" for the steel industry after a year of closures and low delivery volumes in 2019. Import pressure from international competitors, low prices and high energy and emission charges combined to weaken EU producers."

It should also be noted that China still has the 20% export tax on Ferro alloys, now the EURO to YUAN exchange rate is making China further non-competitive in Europe as the Yuan has increased due to the fact that no further infections have been reported in two days.