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Tata Steel Thailand lowers sales estimate on reduced state project spending-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
8/29/2018 緊固件展-緊固件采購會-國際緊固件展-fastener expo |
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Bangkok Post reported that Tata Steel Thailand Pic is conservative about sales volumes for its 2019 fiscal year, which began in April, projecting slight growth to 1.24-1.25 million tonnes after witnessing overall rebar volume in the country shrinking during January to June, down from the 1.32-1.35 million tonnes projected earlier after Thailand’s rebar sales volume, which represent roughly 55% of all steel products sold by Tata Steel Thailand, dropped by 5.4% to 2.6 million tonnes in the first six months of 2018. CEO Mr Rajiv Mangal said "Disbursement of the government''s budget did not meet the company''s expectations, particularly for the state''s megaprojects. Meanwhile, many long weekends and the early rainy season also reduced local rebar demand."
Mr Mangal said he remains confident about overall rebar volume in 2018 reaching 6 million tonnes, unchanged from the year before, as Tata expects local sales volume in the second half to exceed 2.6 million tonnes. He said "Rebar demand is expected to recover in the second half as we believe the government will speed up megaprojects -- for metropolitan mass transit and highways and the construction sector will return to positive movements.”
Moreover, Tata forecasts overall steel demand will grow by 5-8% this year to 18 million tonnes because the government will accelerate the construction of megaprojects.
Last year, Thailand’s steel demand dropped by 5-6% to 17.8 million tonnes
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-The 20th China (Guangzhou)Int’l
Fastener & Equipment Exhibition
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