Hold and wait for confirmation
The evidence is balanced enough to avoid a defensive call, but not aligned enough for aggressive positioning.
Metal Fabrication
For the week ending 02 October 2026, Metal Fabrication declined 0.83% with 113 advancing, 163 declining, and 15 unchanged constituents.
- Index level
- 1,646.02 Index points · base 1,000
- Weekly return
- -0.83%
- Measured equities
- 291
- Rank within sector
- 10 of 25
156 completed weeks
Metal Fabrication price and trend
Explore the index, how widely companies share the move, the trend’s momentum and declines from previous highs.
Trend structureDeceleration
Index vs Trend0.2%
13-week persistence-3.1%
Advancing participation39%
Index Value
Trend Line
Fair Value
Activity Lines
Constructive Transition Defensive
Weekly index closes and the Trend Line. Dashed grey shows the latest Fair Value reference; it is not a historical forecast. Enable the other overlays for more detail.
Performance in context
Metal Fabrication in context
Price and participation determine the view. Sentiment remains a separate confirmation layer.
Five measures
53Quality of the positioning case
Trend
58
Breadth
36
Persistence
42
Relative
63
Risk quality
90
Parent-relative performance
Composite rank 10 of 25Returns versus Industrials
HorizonReturnRelative
1 week-0.8%0.2 pts
4 weeks-1.7%0.2 pts
13 weeks-3.1%-0.2 pts
26 weeks8.2%5.7 pts
52 weeks7.6%4.4 pts
Return is the industry index’s change. Relative is its return minus Industrials, in percentage points.
Relative leadership path
WeakeningMetal Fabrication versus Industrials
Relative performance13-week relative trendStarting level · 100
Both indexes are compared from the same starting date. Above 100 means Metal Fabrication has outperformed Industrials since that date; below 100 means it has lagged. A rising line indicates improving relative performance, even when both markets are falling.
Supporting evidence
Confirmation and conflict
+Medium-term relative returns and peer standing remain constructive.
!Index trend architecture has not delivered a durable upward expansion.
!Breadth remains too narrow or inconsistent for a high-conviction position.
!Constituent persistence remains divided or predominantly negative.
!The current 13-week parent-relative trend is weakening.
!Activity Line energy is decelerating despite the positive Trend gate.
!Stage 4 declining constituents exceed Stage 2 advancing constituents by 28 percentage points.
Decision boundaries
What would change the view?
1A completed weekly reclaim of 1,643.34, the higher of Trend Line and Fair Value, would improve the structural case.
2Breadth holding above 55% for several completed weeks would show that repair is spreading.
3Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.
Trend state and durability
Trend, durability and market stages
The industry index path is tested against the securities beneath it.
Index trend structure
1 weeksDeceleration
The positive Trend gate remains, but fan energy or fast-line momentum is cooling.
Trend conditionUpActivity Line spread0.33%Closes above Activity Lines50%Closes below Activity Lines50%
Six completed weeks of price acceptance relative to the full Activity Line fan.
Index persistence
75% agreementPositive regime, shorter trend weakening
The long trend remains positive, but the 13-week horizon has turned against it.
13-week
-3.1%
26-week
8.2%
39-week
5.5%
52-week
7.6%
Regime age77 weeks52-week flips052-week boundary1530.04
Company trends
91% coverageHow broadly durable is the move?
44%positive
Coherent positive19%
Coherent negative30%
Horizon agreement82%
Weakening positives45
Repairing negatives33
264 constituents measured as of 2 Oct 2026.
Market stages
97% coverageWhere companies sit in the cycle
50%Stage 4
Stage 1 Basing17%48
Stage 2 Advancing22%61
Stage 3 Distribution11%32
Stage 4 Declining50%142
Re-acceleration4Transition watch44Fair Value repairs27
Stage coverage is shown explicitly and is not substituted for full-universe persistence coverage.
Countries and regions
Where Metal Fabrication strength is developing
Country returns, participation and Trend position show whether the global result is widely shared or locally concentrated.
Countries measured1529 represented in the full universe
Positive countries8 / 15Latest weekly return above zero
Above Trend Line47%7 country indexes
Return dispersion2.62 ptsCross-country opportunity and divergence
Latin America3.67%
1 countries · 3 equities · 1% of measured coverage
Other markets2.52%
1 countries · 30 equities · 10% of measured coverage
North America0.43%
1 countries · 16 equities · 5% of measured coverage
Europe0.28%
2 countries · 13 equities · 4% of measured coverage
Asia Pacific-1.45%
9 countries · 201 equities · 69% of measured coverage
Middle East and Africa-3.98%
1 countries · 8 equities · 3% of measured coverage
Country evidence map
Minimum 3 constituentsReturn, breadth and trend condition
🇧🇷BR3
3.67%
100% up · above Trend
🇸🇬SG5
2.64%
20% up · below Trend
🇹🇼TW30
2.52%
70% up · above Trend
🇰🇷KR9
2.14%
78% up · below Trend
🇸🇪SE8
0.83%
50% up · below Trend
🇹🇭TH9
0.78%
44% up · above Trend
🇺🇸US16
0.43%
50% up · below Trend
🇯🇵JP23
0.14%
35% up · above Trend
🇲🇾MY27
-0.17%
41% up · above Trend
🇦🇹AT5
-0.61%
60% up · above Trend
🇮🇳IN30
-0.68%
30% up · above Trend
🇭🇰HK12
-2.56%
17% up · below Trend
🇨🇳CN82
-3.09%
24% up · below Trend
🇹🇷TR8
-3.98%
38% up · below Trend
🇮🇩ID4
-6.18%
0% up · below Trend
14 thin country slices are excluded from comparative conclusions. Their securities remain in the global index.
Country leadership
Strongest country readings
🇧🇷Brazil3 equities3.67%
🇸🇬Singapore5 equities2.64%
🇹🇼Taiwan30 equities2.52%
🇰🇷South Korea9 equities2.14%
🇸🇪Sweden8 equities0.83%
🇹🇭Thailand9 equities0.78%
Country pressure
Weakest country readings
🇮🇩Indonesia4 equities-6.18%
🇹🇷Turkey8 equities-3.98%
🇨🇳China82 equities-3.09%
🇭🇰Hong Kong12 equities-2.56%
🇮🇳India30 equities-0.68%
🇦🇹Austria5 equities-0.61%
Related industries
Where Metal Fabrication sits inside Industrials
Relative performance over four and thirteen weeks, alongside participation, separate durable leadership from a one-week move.
Composite rank10 / 25
Leading6
Lagging7
Above Trend7 / 25
Return dispersion0.71 pts
Relative rotation map
Is this industry gaining or surrendering leadership?
↑ Four-week return versus Industrials Percentage-point difference
Improving
Leading
Lagging
Weakening
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Thirteen-week return versus Industrials →
Numbers match the ranking. Larger markers represent more constituents. Fine lines connect separated markers to their actual positions.
Explore the rotation mapHover or focus a marker or ranking to inspect its relative returns.
Leadership quality · latest completed week
Do the leaders have broad support?
5 of 6 relative leaders with breadth data have fewer than half their companies advancing this week. Leadership is not yet matched by broad weekly participation.
Top six by composite scoreCompanies advancing13-week
relative return
relative return
Marine Shipping
47%
+13.5 pp
Trucking
42%
+7.2 pp
Industrial Distribution
49%
+6.1 pp
Staffing & Employment Services
32%
+8.5 pp
Infrastructure Operations
51%
+3.1 pp
Tools & Accessories
43%
-1.4 pp
The tick marks 50% advancing; unchanged companies remain in the denominator. A weak week can challenge a longer lead without reversing it. Relative return is measured against Industrials.
Composite industry ranking
Score / 100Momentum with confirmation
1
Marine ShippingLeading · 47% advancing
100
2TruckingLeading · 42% advancing
86
3Industrial DistributionLeading · 49% advancing
83
4Staffing & Employment ServicesWeakening · 32% advancing
67
5Infrastructure OperationsLeading · 51% advancing
58
6Tools & AccessoriesImproving · 43% advancing
56
7Specialty Business ServicesWeakening · 33% advancing
54
8Consulting ServicesWeakening · 35% advancing
53
9RailroadsLeading · 39% advancing
49
10Metal FabricationImproving · 39% advancing
45
11Engineering & ConstructionLeading · 32% advancing
45
12Integrated Freight & LogisticsWeakening · 36% advancing
42
13Specialty Industrial MachineryImproving · 38% advancing
41
14Business Equipment & SuppliesWeakening · 24% advancing
39
15ConglomeratesWeakening · 30% advancing
34
16Security & Protection ServicesLagging · 37% advancing
31
17Farm & Heavy Construction MachineryWeakening · 38% advancing
30
18Building Products & EquipmentLagging · 34% advancing
30
19Rental & Leasing ServicesLagging · 43% advancing
29
20Electrical Equipment & PartsImproving · 39% advancing
29
21Waste ManagementLagging · 34% advancing
29
22Pollution & Treatment ControlsLagging · 32% advancing
29
23AirlinesImproving · 37% advancing
18
24Airports & Air ServicesLagging · 19% advancing
3
25Aerospace & DefenseLagging · 28% advancing
0
The score combines relative returns, weekly participation and the gap to Trend. It ranks the evidence; it is not a probability or an expected return.
Participation and risk
Breadth, momentum and risk
The headline index is tested against participation, volatility, drawdown and the distribution of security returns.
Advancing participation38.8%-5.4 points versus recent baseline
13-week positive weeks38%Index-level hit rate
Annualised volatility15.6%52-week index return volatility
Current drawdown-4.8%From the 52-week index high
156-week max drawdown-10.6%Peak-to-trough index decline
Market participation
Range -100 to +100Net advancing participation
Trend momentum
Positive or negative slopeTrend Line rate of change
Company returns
291 equitiesWhat the headline return conceals
Average loser-4.48%
Average winner+4.32%
Median equity-0.88%The middle security, less sensitive to extreme movers
Interquartile range-3.75% to 1.79%The central half of the universe
Security dispersion6.05 ptsCross-sectional opportunity and stock-selection risk
News and price confirmation
News and price agreement
News snapshot prepared 4 Oct 2026, 15:23 BST for this weekly report.
Qualified sentiment coverage for this industry is still building.
Company performance
The equities driving the result
Weekly leaders and laggards reveal whether the index move is broad, concentrated or vulnerable to reversal.
Leadership
Strongest weekly contributors
Pressure
Weakest weekly contributors
Latest week
All industry constituents
Showing 1-30 of 291, sorted by weekly return.
| Ticker | Company | Market | Open | High | Low | Close | Return |
|---|---|---|---|---|---|---|---|
| 2962 | Tecnisco, Ltd. | JP · JPX | 2,230.00 | 2,779.00 | 1,950.00 | 2,732.00 | 25.09% |
| SMLT | Sarthak Metals Limited | IN · NSI | 63.00 | 74.18 | 57.80 | 74.18 | 24.99% |
| M14 | InnoTek Limited | SG · SES | 0.44 | 0.555 | 0.44 | 0.53 | 21.84% |
| 3162 | United Alloy-Tech Company | TW · TWO | 75.10 | 92.00 | 75.10 | 89.60 | 21.74% |
| ALICON | Alicon Castalloy Limited | IN · NSI | 730.00 | 891.40 | 702.05 | 871.95 | 19.44% |
| 4545 | Min Aik Precision Industrial Co., Ltd. | TW · TAI | 34.15 | 40.75 | 33.70 | 39.50 | 19.34% |
| 9466 | KKB Engineering Berhad | MY · KLS | 1.14 | 1.32 | 1.14 | 1.25 | 15.74% |
| AP | Ampco-Pittsburgh Corporation | US · NYSE | 8.48 | 9.75 | 8.48 | 9.70 | 12.27% |
| GPGI | GPGI, Inc. | US · NYSE | 11.44 | 13.04 | 11.16 | 12.90 | 11.11% |
| 5292 | UWC Berhad | MY · KLS | 6.89 | 7.59 | 6.66 | 7.57 | 10.03% |
| 4912 | Lemtech Holdings Co., Limited | TW · TAI | 96.40 | 110.00 | 95.20 | 106.00 | 9.50% |
| 300850 | Luoyang Xinqianglian Slewing Bearing Co., Ltd. | CN · SHZ | 29.25 | 33.10 | 28.17 | 31.81 | 8.75% |
| BTW | BT Wealth Industries Public Company Limited | TH · SET | 0.12 | 0.13 | 0.11 | 0.13 | 8.33% |
| 0240 | Coraza Integrated Technology Berhad | MY · KLS | 1.09 | 1.21 | 1.03 | 1.18 | 8.26% |
| DRX | ADF Group Inc. | CA · TOR | 13.46 | 14.85 | 13.39 | 14.51 | 7.80% |
| 603626 | Kunshan Kersen Science & Technology Co.,Ltd. | CN · SHH | 22.56 | 25.45 | 21.86 | 24.22 | 7.60% |
| RYZ | Ryerson Holding Corporation | US · NYSE | 23.82 | 25.84 | 23.02 | 25.57 | 7.21% |
| BM | Bangkok Sheet Metal Public Company Limited | TH · SET | 1.43 | 1.55 | 1.38 | 1.52 | 7.04% |
| DMSAS | Demisas Döküm Emaye Mamülleri Sanayi Anonim Sirketi | TR · IST | 6.05 | 7.12 | 5.49 | 6.47 | 6.94% |
| 0368 | OXB | MY · KLS | 0.445 | 0.485 | 0.41 | 0.475 | 6.74% |
| 300690 | Shandong Shuangyi Technology Co., Ltd. | CN · SHZ | 25.05 | 27.23 | 24.35 | 26.58 | 6.33% |
| 5426 | Cheng Fwa Industrial Co., Ltd. | TW · TWO | 27.90 | 29.90 | 27.65 | 29.65 | 6.27% |
| PROF-B | ProfilGruppen AB (publ) | SE · STO | 120.00 | 129.50 | 119.00 | 127.50 | 6.25% |
| 0251 | SFP Tech Holdings Berhad | MY · KLS | 0.265 | 0.275 | 0.245 | 0.275 | 5.77% |
| 6138 | Dijet Industrial Co., Ltd. | JP · JPX | 1,988.00 | 2,118.00 | 1,974.00 | 2,085.00 | 5.68% |
| 0238 | CEKD Berhad | MY · KLS | 0.275 | 0.29 | 0.26 | 0.29 | 5.45% |
| 3663 | ThinTech Materials Technology Co., Ltd. | TW · TWO | 61.40 | 68.60 | 61.00 | 64.80 | 5.37% |
| 092790 | NEXTEEL Co., Ltd. | KR · KSC | 13,110.00 | 15,560.00 | 13,030.00 | 14,080.00 | 5.07% |
| 7197 | GE-Shen Corporation Berhad | MY · KLS | 1.10 | 1.14 | 1.08 | 1.14 | 5.07% |
| NFGAB | Nordic Flanges Group AB (publ) | SE · STO | 31.00 | 32.20 | 29.00 | 30.40 | 4.83% |