Recent Study: Mexico Metals Report Q4 2014

Expansion of the automotive, manufacturing, construction, and oil and gas sectors, all of which rely on steel and other refined metals as input s , will enable steady production and consumption growth for Mexico's metal sector to 2018. Domestic steel producers will contend with cheaper foreign imports and US duties on Mexican exports , though investment into and output from the sector is unlikely to face significant risks.

Strengthening economic growth in Mexico over the next five years will underpin production and consumption growth of Mexican metals, particularly steel. While weaker-than-expected economic activity in H114 prompted us to downgrade our 2014 real GDP growth forecast from 3.1% to 2.6%, we expect the economy to accelerate markedly in H214 and 2015, driven by a recovery in the construction sector, stronger manufacturing exports, and an improvement in real private consumption. For 2015, we forecast real GDP growth of 3.7%, and for average annual growth of 3.8% in 2016-2018. These factors should ensure Mexico remains the second-largest producer and consumer of steel in Latin America, behind Brazil.

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Mexico's auto sector in particular will continue to attract investment and see production growth given its exposure to the US, the world's largest autos market, and Latin America, which will see growing demand for autos. Reforms to the country's energy sector lead us to forecast an uptick in oil and gas infrastructure investment and therefore increased consumption of steel used in pipelines and other equipment. We recognize the potential is large, and will thus monitor investment into the country's oil and gas industry, as well as a concurrent uptick in production and consumption trends, over the coming quarters.

Steelmaking will dominate...

The Mexico 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 Mexico.

BMI's Mexico 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 Mexico.

Key Benefits

* Benchmark BMI's independent metals industry forecasts for Mexico to test other views - a key input for successful budgeting and strategic business planning in the Mexico metals market.
* Target business opportunities and risks in Mexico through our reviews of latest industry trends, regulatory changes and major projects and investments.

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