"As taller buildings face more gravitational and lateral loads, they require more complex structural systems that incorporate more structural and reinforced steel," says Ong.
Natalie Ong of CGS International, citing a new peak in Singapore steel demand, has raised her target price for BRC Asia from $4.30 to $5.30.
Besides official projection of construction demand at between $39 and $42 billion this year, Ong, in her Oct 9 note, points out that many of the new projects are high-density developments in nature and will therefore result in demand for reinforced steel sold by the likes of BRC Asia to surpass the historical peak in 2015.
