New Market Report Now Available: Spain Metals Report Q3 2014

The outlook for Spain's metals sector is steadily improving once more. After three years of consecutive contraction in both domestic steel consumption and production, BMI is forecasting a turnaround with steel production returning to growth in 2014 and steel consumption in 2015 (after a contraction of 0.5% in 2014). Looking further ahead, we expect both steel consumption and production growth to accelerate year-on-year (y-o-y) from 2016 through to the end of our forecast period in 2018. Despite the forecasted gains, we believe economic growth in Spain will prove moribund and the local steel market will fail to return to pre-recession levels of consumption or production within our forecast period. In 2013 domestic crude steel consumption is estimated to have fallen 1.1% y-o-y to 11.38mnt (mn tonnes), while crude steel production is estimated to have fallen 0.5% to 13.57mnt. Given current trends in terms of both output and the state of domestic and external markets, the industry is unlikely to return to pre-2011 levels of output anytime soon. In order to compensate for poor domestic demand, recovery in the Spanish steel industry will largely depend on growth in exports of manufactured goods. Germany has been the chief target for Spanish steel exports, but the decline in the performance of the German manufacturing sector from mid-2011 is having a deleterious effect on export performance.

Full Report Details at
- http://www.fastmr.com/prod/837670_spain_metals_report_q3_2014.aspx?afid=301

In early August 2013 ArcelorMittal announced its intension to restart coke oven batteries 7 and 8 in Avilés, northern Spain by mid-November, following their hot shutdown in December 2011, due to the fall in steel demand in Spain and Europe. This will help provide steel to the local automotive industry. This indicated growing optimism that the export-oriented Spanish automotive industry was set for growth in 2013. Acerinox is also predicting a recovery in the global stainless steel market in 2013, bolstered by the automotive industry. However, the Spanish flat...

The Spain Metals Report has been researched at source, and features latest-available data for steel, aluminium and other major globally-traded commodities. Our analysis covers all primary indicators, including production, exports and price, with our forecasts underpinned by Business Monitor International (BMI)'s macroeconomists global economic outlook. The report analyses trends and prospects and critically evaluates latest industry news, trends and regulatory developments in Spain.

BMI's Spain Metals Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the metals industry in Spain.

Key Benefits

* Benchmark BMI's independent metals industry forecasts for Spain to test other views - a key input for successful budgeting and strategic business planning in the Spain metals market.

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