Italy Metals Report 2015 - Business Monitor International - Industry Reports

Italy Metals Report 2015

Italy Metals Report 2015 - Business Monitor International - Industry Reports
Italy Metals Report 2015
Published May 16, 2015
47 pages — Published May 16, 2015
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Abstract:

BMI View: We expect ---- to bring another year of negligible growth for Italy s steel industry with the country s production estimates from Q--- making depressing reading for. The industry continues to face a number of significant headwinds, ranging from a stagnant local economy and weak European demand, to increased competition from cheap Chinese imports. ...Despite the reopening of a blast furnace at the facility in September ----, the facility is reported to be under threat of bankruptcy, with Antonio Gozzi the President Federacciai, the Italian iron and steel association, commenting in May ---- that the company Ilva is going to go bankrupt unless a solution was found. In November ----, Luxembourg-based steelmaker ArcelorMittal submitted a non binding offer for Ilva s steel plant with local steel company Marcegaglia, however, reports in the Italian media in early ---- showed the deal to have fallen through, partly as a result of legal complications surrounding the company s property ownings. Without an immediate solution to the plant s problems in sight, Ilva moved to mothball a second of its four blast furnaces (Furnace -) at the end of March ----. The most recent reduction in capacity at the Taranto plant will result in the further contraction of Italy s overall steel production volume during ----. Having contracted by an estimated -.- in ----, we forecast

...< ALACRA META ABSTRACT>BMI View: The outlook for Italy s metals sector remains fraught with challenge, with weak economic growth, falling capacity and increasing competition combining to stymie production. While consolidation and strategic developments are likely to ensure the industry s long-term survival, we expect the operating environment for Italian producers of steel and other metals to remain extremely challenging over ---- and beyond. ...Perhaps the most noticeable sign of the industry s struggles has been the plight of the Ilva Steel plant in Taranto, Puglia which has traditionally comprised around -- of the country s total steel making capacity. The facility, which has been under government control since late ----, continues to serve as an unfortunate bellwether for the market as a whole and was recently the subject of a failed takeover bid by Luxembourg-based steelmaker ArcelorMittal the plant is reported to be losing cash at a rate of EUR--mn (USD--.--mn) Italy s prolonged economic crisis combined with the wider economic malaise being felt across the eurozone has led to falling demand across the majority of country s core demand base. a month, according to steel industry body Federacciai.

...� Business Monitor International Ltd Page -- production to fall by -.- this year to --.--mnt. However, we caution that severe downside risks surround the Taranto and we are not ruling out further reduction in capacity at the facility this year. ...Based on these projections, we forecast output to stand at --.--mnt in ----. Our outlook for Italian steel consumption is more positive as industrial production, supported by low oil prices and the advantaged of a weak euro, starts to bottom out and present the first green shoots of growth. Italian industrial production rose by -.- in December ---- on a month-on-month basis, though slipped by -.- in January of this year. ...

  
Source:
Document ID
2040-6991
Country
Industry
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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. "Italy Metals Report 2015" May 16, 2015. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Italy-Metals-Report-2015-2026-912>
  
APA:
Business Monitor International - Industry Reports. (2015). Italy Metals Report 2015 May 16, 2015. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Italy-Metals-Report-2015-2026-912>
  
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