Belgium Metals Report - Business Monitor International - Industry Reports

Belgium Metals Report

Belgium Metals Report - Business Monitor International - Industry Reports
Belgium Metals Report
Published Nov 22, 2014
50 pages — Published Nov 22, 2014
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Abstract:

Belgium s steel sector is experiencing a return to growth as the decline in European consumption levels appear to have bottomed out. However, we caution that growth levels are likely to remain weak over the remainder of our forecast period, with ongoing uncertainty surrounding the eurozone economy continuing to impinge on demand levels. ...Total production was estimated at -.--mn tonnes (mnt) for the period, equivalent to a year-on-year (y-o-y) increase of -.- over -M--. While this can be seen as a positive indication of a steady recovery in the country s steel output, it is important to note the impact of base effects on this growth, given the - and - contractions in output witnessed in ---- and ----, respectively. Indeed, Belgium s estimated steel output of -.--mnt in ---- remains considerably lower than the country s pre-downturn production volumes (--.--mnt in ----). ...With the eurozone s economic recovery appears increasingly fragile in Q---, we forecast Belgium steel production growth to narrow to -.- y-o-y in ----, reaching -.--mnt. Average annual growth over --------- is forecast at -.- , with output reaching -.--mnt at the end of this period.

...BMI View: Belgium s steel sector is starting to enter a period of relative stability. Having witnessed significant decline over recent years, we are now beginning to see production levels stabilising due to gradually improving consumption levels and the diminished output capacity of producers. ...Uncertainty surrounding steel demand across the region has been promulgated by ongoing weakness in the major European economies, which also include Belgium s major export markets. The concern of many producers has been mirrored in recent comments by the World Steel Organisation, who has voiced fears that mills will have to make significant redundancies if consumption levels continue to bump along the bottom. Domestic crude steel consumption is expected to follow production in remaining weak over the mid-term, with average growth forecast at -.- y-o-y over ---------. ...The concern of many producers has been mirrored in recent comments by the World Steel Organisation, who has voiced fears that mills will have to make significant redundancies if consumption levels continue to bump along the bottom. Domestic crude steel consumption is expected to follow production in remaining weak over the mid-term, with average growth forecast at -.- y-o-y over ---------.

...Our forecasts for domestic steel consumption follow a similar pattern, with ---- showing a return to positive growth in the country s crude steel usage, following three years of contraction. We estimate crude steel consumption to have fallen by -.- in ---- to -.--mnt, following contractions of -- and - in ---- and ----, respectively. ...

  
Source:
Document ID
2040-6967
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Belgium Metals Report" Nov 22, 2014. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Belgium-Metals-Report-2026-837>
  
APA:
Business Monitor International - Industry Reports. (2014). Belgium Metals Report Nov 22, 2014. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Belgium-Metals-Report-2026-837>
  
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