Just wanted to correct my previous post on this Thread regarding "lower pulp costs in 2H16". The raw material cost will come under pressure (not decrease): ie. 1H16: 82c (vs 1H15: 91c), 2H16: 75c (vs 2H15: 93c). I guess that was one of the contributing factors to the mid year SP correction.
So less purchasing power 2H16 vs. 1H16 and also 2H16 vs. 2H15 due to hedging. Refer to snips out of the publicly available company presentation.
I hope I've interpreted this correctly. If anyone can help to clarify further feel free.
Asaleo (AHY) on the Rise, page-2
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