Turkey Metals Report Q4 2014

Date: September 3, 2014
Pages: 50
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download
ID: TA297883C74EN

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Includes 3 FREE quarterly updates

BMI View: Despite relatively weak growth to be expected over coming months, 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 34.7mnt in 2013 to 44.6mnt in 2018. We expect growth to average 5.2% 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, Long-Term Growth
  Table: Steel Production & Consumption (Turkey 2010-2018)
  Table: Steel Industry Historical Data (Turkey 2005-2012)
Regulatory Development
Political Risk Heightened
Anti-Corruption Drive Paying Off
Tax Regime
  Table: Political Overview
Commodities Forecast
  Table: BMI Steel Price Forecast
Short-Term Outlook
Core View
Surplus Set To Slim
Production: Reining In Growth
Consumption: Deceleration Ahead
No Respite From Chinese Exports Over Coming Months
Arbitrage Set To Grow Between East And West
Risks To Price Outlook
  Table: Steel Data & Forecasts
  Table: Global Steel Prices By Region & Product, USD/tonne (average)
Commodity Strategy
Ferrous Metals:
Iron Ore: Bounce Won't Last, Weakness In 2015
Steel: Long Road To Price Recovery
Non-Ferrous Metals:
Aluminium: Elevated Prices In Coming Weeks
Copper: Strength To Turn To Weakness By Q414
Lead: Price Bounce Underway
Nickel: Prices To Cool In Coming Months
Tin: Market Tightness To Drive Prices Higher
Zinc: Prices To Moderate By Q414
  Table: Select Commodities - Performance & BMI Forecasts
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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