DMCI Holdings chief sees positive outlook in 2024

Business.
Business.(Business File photo)

A TOP official of DMCI Holdings maintains a cautiously optimistic outlook about the DMCI group’s performance in 2024 due to the combined effect of cooling inflation, stabilizing interest rates China’s economic slowdown and modest growth in the domestic energy market.

DMCI chairman and president Isidro Consunji said slowing sales and manufacturing in China could keep a lid on commodity prices. With less demand and activity, he said, they expect prices to be somewhat lower than last year. Consunji described 2023 as a fairly good year despite the global market uncertainties, volatile prices, and high-interest rates that characterized the year.

He said the company ended 2023 with all-time high coal shipments and off-grid energy sales.

Its sole operating nickel mine also posted record sales during the year.

From January to December, Zambales Diversified Metals Corp. shipped 1.68 million wet metric tons (WMT) of nickel ore, a 16-percent upturn from 1.45 million WMT in 2022.

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