Australasian steel distributor and processor Vulcan Steel has lifted its full-year profit forecast by 25 per cent on booming demand and prices for steel products used in construction and infrastructure projects, triggering a 7 per cent rise in its shares in early trading on the ASX on Tuesday.
The company, which is dual-listed on the Australian and New Zealand stock exchanges after raising $372 million in fresh capital in a float late last year, said on Tuesday that while there was renewed pressure on supply chains because of the Ukraine war, both demand and prices were strong.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
