Romania Metals Report Q3 2014

Date: May 14, 2014
Pages: 50
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download

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Includes 3 FREE quarterly updates

Romania's metals sector will continue to see modest growth over the coming years as it slowly recovers from the global downturn. This is primarily the case for steel, the largest sub-component of Romania's metals sector. With modest growth in both autos production and the country's construction sector, we expect modest growth in steel output over the next five years. In addition, with our expectation for steel prices to head broadly lower over the coming years, we see few sources of encouragement for the sector. Therefore, whilst we forecast modest growth in output, it will remain far off 2007 highs. Romanian crude steel output demonstrated modest growth in 2013 of 1.0%, however, production is still more than a third less than pre-2008 levels. BMI forecasts an acceleration in growth in 2014 at 2.0% y-oy, however, to reach 3.39mnt of crude steel. We expect growth to accelerate further by 2.4% in 2015, to reach 3.47mnt.
BMI Industry View
Metals SWOT
Industry Forecast
Steel: Little Growth Ahead
  Table: Romania - Steel Production & Consumption ('000 tonnes, unless stated)
  Table: Romania - Steel Production & Trade ('000 tonnes, unless stated)
Regulatory Development
Commodities Forecast
Steel Price Forecast
  Table: BMI Steel Forecast
Short-Term Outlook
Core View
Global Steel Glut To Persist
Production: Rationalisation In The Long Term
Consumption: Growth Decelerating
Excessive Chinese Exports
Growing Arbitrage Between East & West
Risks To Price Outlook
  Table: Steel Data & Forecasts
  Table: Global Steel Prices By Region & Product, US$/tonne (ave)
Commodity Strategy
Iron Ore: Fading Iron Will
Steel: Global Glut To Weigh On Prices
Aluminium: Fundamentals To Remain Weak
Copper: All Eyes On China
Lead: Outperforming Its Troubled Peers
Nickel: Monthly Outperformer
Tin: Outperforming A Weak Field
Zinc: Further Consolidation Likely
  Table: Select Commodities - Performance & BMI Forecasts
Competitive Landscape
  Table: Europe - Major Listed Metal Producers
Company Profile
Company Overview
Company Strategy
Latest Financial Results
Company Details
Financial Data
  Table: ArcelorMittal - Key Financial Data
  Table: Mechel - Financial Data
Cross Checks
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