Turkey Metals Report Q2 2014

Date: February 12, 2014
Pages: 47
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download
ID: T3D0F758B53EN

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BMI View: Despite relatively weak growth to be expected in the near-term, the medium-term outlook for Turkey's metals sector remains promising due to strong demand from the domestic construction and autos sectors. Near-term headwinds are likely to include currency weakness making imports of materials more expensive and weak global steel prices squeezing steel-makers' margins. An uptick in political risk in Turkey also presents a key downside risk.

Over the medium-term we forecast Turkey's total steel production to grow from 35.9mnt in 2012 to 45.6mnt in 2018. We expect growth to average 5.6% y-o-y over 2014-2018, as we predict a recovery from the negative growth seen during 2013, which was a result of weak global steel prices and a weak lira pushing up the cost of imports of materials.
BMI Industry View
Metals SWOT
Industry Forecast
Steel: Near-Term Headwinds For Sector
  Table: Turkey - Steel Production & Consumption (kt)
  Table: Turkey - Steel Industry Historical Data (kt)
Regulatory Development
Political Risk Heightened
Anti-Corruption Drive Paying Off
Tax Regime
  Table: Political Overview
Commodities Forecast
Commodity Strategy
Aluminium: Continued Short-Term Weakness
Copper: Recent Strength Doesn't Change Our View
Nickel: Recent Strength To Subside
Zinc: Price Momentum To Continue
  Table: Select Commodities - Performance & BMI Forecasts
Commodities Forecast
  Table: BMI Steel Forecast
  Table: Steel Data And Forecasts, 2009-2017
Competitive Landscape
  Table: Turkey - Steel Mills
  Table: Turkey - Largest Listed Metal Producers, Key Financial Metrics
Company Profile
Company Strategy
  Table: Erdemir - Financial Data
Company Strategy
  Table: Kardemir - Financial Data
Cross Checks
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