Taiwan Metals Report 2016 - Business Monitor International - Industry Reports

Taiwan Metals Report 2016

Taiwan Metals Report 2016 - Business Monitor International - Industry Reports
Taiwan Metals Report 2016
Published Oct 31, 2015
23 pages — Published Oct 31, 2015
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Abstract:

BMI View: We are looking for moderate levels of y-o-y growth in Taiwanese steel output over the next few years as falling prices and a challenging export environment weigh on the production targets of local steelmakers. While these concerns will be assuaged to a certain extent by higher levels of local demand, we expect overall production growth levels to remain relatively weak through to ---- at just over - a year on average. ...Taiwanese crude steel output grew by a slender -.- y-o-y over the first eight months of the year to reach --.--mn tonnes (mnt). Though this rate of growth is superior to that of a number of major steel producers (China s output contracted by -.- over the equivalent period), it also represents a significant slowing from the country s -.- expansion in production registered over the ---- full year. While the reasons for the slowdown are several fold, they can largely be attributed to a deteriorating sales environment for local mills who have seen their opportunities for export growth in particular severely reduced over recent months. ...Nevertheless, we expect steelmakers to retain a cautious outlook in terms of capacity utilisation, resulting in an output growth of just -.- in ---- and an average annual increase of -.- during the --------- forecast period. There will be relatively little incremental production over this period with output totalling --.-mnt in ----, compared with --.-mnt in ----.

...As exports continue to underperform, steel producers will become increasingly reliant on domestic consumption sales. Luckily, Taiwan s domestic economy has remained fairly immune to the challenges facings the country s export sector. ...The Taiwanese construction sector also provides grounds for encouragement from a steel consumption perspective. While construction growth is likely to disappoint over ----, registering real growth of just -.- over the year, we expect an acceleration in construction activity from ---- as Taiwan s government steps up expenditure on public infrastructure projects in an effort to boost investment spending and improve economic growth. A key source of demand for steel makers will be the construction of athletic venues and housing for the ---- Universiade summer games which are being held in Taipei. ...A key source of demand for steel makers will be the construction of athletic venues and housing for the ---- Universiade summer games which are being held in Taipei. As in the case of the autos market, we are looking for construction activity to continue accelerating through to the end of our forecast period, with growth pencilled in at about - -- a year through to ----.

...< ALACRA META ABSTRACT>BMI View: Like others globally, Taiwan s metals sector faces mounting challenges over the next few years as weak as an increasingly competitive export market for steel forces local steelmakers to look inwards for growth opportunities. The bright spot for Taiwanese producers is that the domestic economy should be supportive of the long-term expansion plans of local producers such as China Steel Corporation, though we expect output growth to be moderate through to ----. ...

  
Source:
Document ID
2040-6797
Country
Industry
Format:
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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. "Taiwan Metals Report 2016" Oct 31, 2015. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Taiwan-Metals-Report-2016-2026-1463>
  
APA:
Business Monitor International - Industry Reports. (2015). Taiwan Metals Report 2016 Oct 31, 2015. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Taiwan-Metals-Report-2016-2026-1463>
  
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