United States Metals Report Q4 2013

Date: September 18, 2013
Pages: 68
US$ 1,295.00
Publisher: Business Monitor International
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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BMI View: Our forecasts across the refined metals sector in the US remain tepid as the country's economic recovery remains steady but less than robust, and as the long-term trend of declining consumption and metal intensity per unit of economic grow continue to play out. In the short term we e expect refiners and metal producers will continue bringing production back online as the country's economic outlook improves, particularly in the construction and automotive sectors. That said, production and consumption will likely remain below pre-crisis levels as Chinese growth slows in H213, eurozone demand remains weak, and inventories stay elevated.

We believe slow but steady growth in the metals sector will roughly track broader GDP growth, which we forecast to average 2.4% from 2013 to 2017. Gains in the manufacturing, including automotive, and construction sectors should lead to steady, though low, growth. However, elevated inventories, weak foreign demand, and increased competition from cheap imports will cap production increases. Data available through to June 2013 indicate that while metal industry activity has increased since the end of 2012, recent growth has slowed in the metals industry.
BMI Industry View
Headwinds Lead To Mixed Outlook
United States - Q4 2013
Industry Forecast
Aluminium: Production And Consumption Trends To Diverge
Consumption To Benefit From Recovering Economy
Production Capacity Remains Under Pressure
  Table: US - Aluminium Consumption, Production And Balance (kt)
Copper: Muted Recovery
Consumption To See Small Gains With Housing Recovery
Economic Growth To Bring Production Increases
  Table: US - Refined Copper Production And Consumption (kt)
Steel: Positive Trends To Reverse By Mid-Decade
Capacity Utilisation Rising
Construction And Automotives To Support Consumption
  Table: US - Steel Production, Consumption And Balance
Zinc: Production And Consumption Growth Subdued
Moderate Increase In Consumption Growth
Little Impetus For Production Growth
Imports To Remain Stable
  Table: US - Refined Zinc Production And Consumption ('000 tonnes)
Regulatory Development
Tax Regime
Minimal Corruption
  Table: US - Political Overview
Commodities Forecast
Steel Price Forecast
  Table: BMI Steel Forecast
  Table: Steel Forecast
Monthly Metals Strategy
Ferrous Metals
Base Metals
Aluminium: Still Further Declines
Copper: Continued Weakness
Nickel: Persisting Fall
Zinc: Holding Steady, For Now
  Table: Select Commodities - Performance And BMI Forecasts
  Table: Global Commodities Strategy
Competitive Landscape
  Table: US - Financial Data For Key Listed Metals Firms, FY 2012
Steel Sector Opportunities
Base Metals Production Remains Consolidated
Company Profile
Alcoa - Q4 2013
  Table: Alcoa - Key Financial Data
ArcelorMittal - Q4 2013
Company Strategy
Company Details
Financial Data
  Table: ArcelorMittal - Key Financial Data
Nucor - Q4 2013
  Table: Nucor - Key Financial Data
Cross Checks
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Metals and Mining: United States Industry Guide US$ 995.00 Feb, 2010 · 72 pages

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