United Kingdom Metals Report Q4 2014

Date: September 10, 2014
Pages: 49
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Download
ID: U7287D4C4D0EN

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Includes 3 FREE quarterly updates

BMI View: After a strong year for the UK steel industry in both production and consumption 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 and ensure that the sector continues to accelerate through to the end of our forecast period in 2018.

Serving as a constant reminder that the recovery may be built upon fragile ground, however, monthly data for activity in the steel sector in the UK has been volatile during the first six months of 2014. Indeed, after a strong start with 30.8% y-o-y growth in January, a 9.3% drop off in activity in April, and a sluggish recover since means that that m-o-m activity at the end of the first half of the year sits below where it stood six months previously.
BMI Industry View
Metals SWOT
Industry Forecast
Steel: Recent Investment To Arrest Slowdown
  Table: Steel Production & Consumption (United Kingdom 2010-2018)
  Table: Steel Industry Historical Data (United Kingdom 2005-2012)
Commodities Forecast
Commodity Strategy
Ferrous Metals:
Iron Ore: Price Slump Overdone, Stabilisation In Sight
Steel: Price Forecast Revised Up
Non-Ferrous Metals:
Aluminium: Recent Break Signals Multi-Month Strength
Copper: Subdued Prices Into Q314
Lead: Prices To Strengthen As Deficit Deepens
Nickel: H214 Rally Unlikely
Tin: More Resilient Than Other Metals
Zinc: Sustained Break Unlikely
  Table: Select Commodities - Performance & BMI Forecasts
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)
Competitive Landscape
  Table: Largest European Listed Metals Producers
Company Profile
Tata Steel Limited
  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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