United Kingdom Metals Report Q2 2014

Date: March 5, 2014
Pages: 47
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download

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Includes 3 FREE quarterly updates

BMI View: After a strong year for the UK steel industry in 2013, we are forecasting a muted recovery going forward. In line with its European counterparts, the UK metals industry has been rocked by low profitability that has led to capacity reductions and disinvestment. However, the worst is probably over for the UK, as slightly stronger domestic demand and recent investment from international firms such as Sahaviriya Steel Industries and Tata Steel should arrest the decline in sector fortunes.

We expect the UK autos industry to provide a much needed boost to domestic steel demand, as both vehicle demand and production continue to recover. However, conditions for firms in the steel industry will remain challenging due to a combination of low output prices, high input costs, regulation and weak external demand for UK steel exports. Opportunities for local firms exist in servicing domestic manufacturing such as autos and demand for high end steel products in fast growing but lower technology emerging markets.
BMI Industry View
Metals SWOT
Industry Forecast
Steel: Recent Investment To Arrest Slowdown
  Table: UK - Steel Production And Consumption, 2009-2018 ('000 tonnes)
  Table: UK - Steel Production, 2003-2012 ('000 tonnes, unless otherwise stated)
Commodities Forecast
Monthly Metals Update
Steel: Locked In Secular Downtrend
Aluminium: US$1,800/tonne To Provide Strong Support
Copper: Bearish View In Place Despite Some Recovery
Nickel: Despite Recent Gains, Downside Risks Dominate
Zinc: Channelling Support
  Table: Select Commodities - Performance & BMI forecasts
  Table: BMI Commodities Strategy
Steel Price Forecast
  Table: BMI Steel Forecast
Short-Term Outlook
Core View
Global Steel Glut To Persist
Production: Rationalisation In The Long Term
Consumption: Growth Decelerating
Excessive Chinese Exports
Growing Arbitrage Between East & West
Risks To Price Outlook
  Table: Steel Data & Forecasts
  Table: Global Steel Prices By Region & Product, US$/tonne (ave)
Competitive Landscape
  Table: Largest European Listed Metals Producers
Company Profile
Tata Steel Limited
Recent Financial Results
  Table: Tata Steel - Key Financial Data
Rio Tinto
Company Overview
Company Strategy
Latest Financial Results
  Table: Rio Tinto - Key Financial Data
Cross Checks
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United Kingdom Metals Report Q3 2014 US$ 1,295.00 Jun, 2014 · 48 pages
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