Spain Metals Report 2015 - Business Monitor International - Industry Reports

Spain Metals Report 2015

Spain Metals Report 2015 - Business Monitor International - Industry Reports
Spain Metals Report 2015
Published Sep 12, 2015
38 pages — Published Sep 12, 2015
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Abstract:

< ALACRA META ABSTRACT>BMI View: After the economic hardship of the past few years, the outlook for Spain s metals sector is increasingly positive as the country s manufacturing and construction industries begin a tentative recovery. However, high operating costs and a lack of export competitiveness remain a concern for steel and other metals producers. ...The company is an important base for high-quality steel production, with leading multinational steelmaker ArcelorMittal operating two production facilities in the Asturias region in the north of the country. The collapse of the Spanish construction and manufacturing sectors following the onset of the global economic crisis has led to a severe contraction in the country s steel production volume as output has fallen from About --mn tonnes (mnt) a year in ---- to around --mnt. The past two years have seen tentative steps towards recovery, with production growing by about - year-on- year (y-o-y) in ---- and remaining stable over the following year. ...Germany has been the chief target for Spanish steel exports, but the decline in the performance of the German manufacturing sector from mid----- is having a deleterious effect on export performance, with overseas sales contraction by about - y-o-y in ----. While real wages have fallen, high energy and other input costs have also led to the erosion of the country s export competitiveness, issues that must be addressed if Spain is to compete against low-cost producers such as

...BMI View: An improving domestic demand backdrop should support a tentative recovery in Spanish steel production over our --------- forecast period as producers take advantage of a gradual increase in domestic consumption levels. However, external demand will remain weak over the next few years as exports battle against a sluggish German economy and growing Chinese competition. ...This was due, in no small part, to a high level output during H---. A weaker performance over the last six months of last means base effects are likely to result in this contraction levelling off over H---; nevertheless we are still forecasting negative output over the ---- full year, with production forecast to fall by -.- y-o-y to --mnt. Based on our projections, Spain s steel production will have fallen during six out of the eight years since the onset of the economic crisis in ----. ...A weaker performance over the last six months of last means base effects are likely to result in this contraction levelling off over H---; nevertheless we are still forecasting negative output over the ---- full year, with production forecast to fall by -.- y-o-y to --mnt. Based on our projections, Spain s steel production will have fallen during six out of the eight years since the onset of the economic crisis in ----.

...Growth in domestic local demand represents a significant positive for Spanish steelmakers following significant contraction in domestic crude steel consumption in recent years. Having borne the brunt of the country s economic recession, both the Spanish autos and construction sectors are enjoying a resurgence as GDP is forecast to expand by -.- this year. ...

  
Source:
Document ID
2040-6932
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. "Spain Metals Report 2015" Sep 12, 2015. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Spain-Metals-Report-2015-2026-1452>
  
APA:
Business Monitor International - Industry Reports. (2015). Spain Metals Report 2015 Sep 12, 2015. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Spain-Metals-Report-2015-2026-1452>
  
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