Saudi Arabia Metals Report 2015 - Business Monitor International - Industry Reports

Saudi Arabia Metals Report 2015

Saudi Arabia Metals Report 2015 - Business Monitor International - Industry Reports
Saudi Arabia Metals Report 2015
Published May 16, 2015
36 pages — Published May 16, 2015
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

< ALACRA META ABSTRACT>BMI View: Saudi Arabia s metals sector is poised for rapid growth in terms of consumption over the next few years as a booming construction industry stokes demand for steel and aluminium as well as well as key base metals such as iron ore. While domestic output will continue to grow at a steady pace, we expect the country s output gap to widen across the main metals sub-sectors, leaving the country ever more reliant on imports to meet demand. ...Meanwhile, the new economic cities programme continues to support rapid growth in infrastructure spending as Riyadh looks to support the development of the non-oil economy. Increased capacity across the domestic metals sector will go some way to supporting this demand with Saudi Basic Industries Corp (SABIC) set to significantly expand production at one of its largest refineries over the next few years. Meanwhile, December ---- saw Saudi Arabian mining company Ma aden s begin commercial operations at its aluminium smelter at Ras al-Khair, which it owns as part of a joint venture (JV) with US-based Alcoa. ...Increased capacity across the domestic metals sector will go some way to supporting this demand with Saudi Basic Industries Corp (SABIC) set to significantly expand production at one of its largest refineries over the next few years. Meanwhile, December ---- saw Saudi Arabian mining company Ma aden s begin commercial operations at its aluminium smelter at Ras al-Khair, which it owns as part of a joint venture (JV) with US-based Alcoa.

...BMI View: Saudi Arabia s increasing consumption demands will see the country s steel production deficit to continue to expand over the next few years as the government ramps up its national home-building programme. This will see the Kingdom become one of the world s largest net importers of crude steel over the coming years. Overall, we forecast Saudi Arabia s crude steel production to rise by -.- year-on-year (y-o-y) on average over --------- to reach -.-mn tonnes (mnt) by the end of the period. The next few years will see Saudi Arabia mount a growing challenge the US as the world s largest net importer of crude steel as the domestic production fails to keep pace with the country s rapidly increasing consumption demands. The country was reported to be the fifth largest global net importer in ----, behind the US, Thailand, Indonesia and Vietnam, according to the World Steel Association (WSA); however, the Kingdom s output deficit is likely to have expanded in ---- as consumption rose by an estimated --.- y- o-y to --.-mnt, while production increased by a more moderate -.- over the year, according to WSA estimates. ...The next few years will see Saudi Arabia mount a growing challenge the US as the world s largest net importer of crude steel as the domestic production fails to keep pace with the country s rapidly increasing consumption demands. The country was reported to be the fifth largest global net importer in ----, behind the US, Thailand, Indonesia and Vietnam, according to the World Steel Association (WSA); however, the Kingdom s output deficit is likely to have expanded in ---- as consumption rose by an estimated --.- y- o-y to --.-mnt, while production increased by a more moderate -.- over the year, according to WSA estimates.

...Despite expanded capacity, we expect the country to become increasingly reliant on foreign supplies of steel and other metals over the course of our forecast period as it looks to plug a widening output gap. We project significant growth in steel imports in particular with Saudi Arabia poised to become one of the world s largest net importers of the commodity over the coming years. ...

  
Source:
Document ID
2055-1231
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. "Saudi Arabia Metals Report 2015" May 16, 2015. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Saudi-Arabia-Metals-Report-2015-2026-1515>
  
APA:
Business Monitor International - Industry Reports. (2015). Saudi Arabia 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/Saudi-Arabia-Metals-Report-2015-2026-1515>
  
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