Q2 results is out, it’s profits fell almost 65% compared to a year ago, and 2017 is supposed to be a stronger year when demand for construction and hence steel is concerned.
In my earlier post:
“If we track BCA demand, 2015 is a bountiful year. Billing was 35 Billion. 2016 was 26 billion. 2017 minimum range is from 28 billion. The recent budget announcement has 700 mio public project brought forward. Of course, there is a possibility of demand falling short, but that is highly unlikely as these projects are local and mainly government projects (2/3 of projected demand) which will continue.”
I also mention strong Steel price as a boon for Lee metals. I dun think I got the Macro picture wrong, as the management states as much as the higher revenue is due to higher steel price. The BCA website also mention the higher demand for …