United Kingdom Metals Report - Business Monitor International - Industry Reports

United Kingdom Metals Report

United Kingdom Metals Report - Business Monitor International - Industry Reports
United Kingdom Metals Report
Published Nov 29, 2014
49 pages — Published Nov 29, 2014
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Abstract:

BMI View: After a strong year for the UK steel industry in both production and consumption in ----, we are forecasting the recovery to remain on track, albeit at a slower pace going forward. In line with its European counterparts, the UK metals industry has been rocked by low profitability that has led to capacity reductions and disinvestment. ...In line with its European counterparts, the UK metals industry has been rocked by low profitability that has led to capacity reductions and disinvestment. However, the worst is probably over for the UK, as slightly stronger domestic demand and recent investment from international firms such as Sahaviriya Steel Industries and Tata Steel should arrest the decline in sector fortunes and ensure that the sector continues to accelerate through to the end of our forecast period in ----. Serving as a constant reminder that the recovery may be built upon fragile ground, however, monthly data for activity in the steel sector in the UK has been volatile during the first eight months of ----. ...Opportunities for local firms exist in servicing domestic manufacturing such as autos and demand for high end steel products in fast growing but lower technology emerging markets. The impact of the UK construction sector may be slightly more moderate, however.

...The EC launched the so-called steel action plan in June ---- in a bid to stem a decline in Europe s steel industry, hit by a roughly -- drop in demand since ---- that has led to plant closures. EU industrial output fell to around -- of GDP last year, well short of an informal goal of -- by ----, set by the EC. The United States, by contrast, is reindustrialising with the help of cheap energy thanks to the shale gas boom. Gas prices in Europe are around three times higher than those in the US, prompting the IMF to warn that energy intensive industries such as cement and steel could relocate if action is not taken. The IMF estimates these industries employ over --mn people. ...The IMF estimates these industries employ over --mn people. Eurofer estimates the European steel industry, which employs millions of people directly and indirectly, has suffered a loss of about --,--- jobs in recent years.

...BMI View: The UK steel sector will be bolstered by a continued, albeit weak, domestic economic recovery over ---------. Recent investment from Sahaviriya Steel Industries and Tata Steel combined with a buoyant outlook for the domestic autos industry bode well for near-term prospects. ...

  
Source:
Document ID
2043-6335
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. "United Kingdom Metals Report" Nov 29, 2014. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Metals-Report-2026-1432>
  
APA:
Business Monitor International - Industry Reports. (2014). United Kingdom Metals Report Nov 29, 2014. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/United-Kingdom-Metals-Report-2026-1432>
  
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