Czech Republic Metals Report Q1 2015: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Tue Dec 23 2014

Having enjoyed strong growth over H114, Czech steel output is now showing signs of slowing as producers find themselves facing a weakening demand scenario. Slowing economic growth in Germany and the wider eurozone region will continue to be the main challenge facing Czech steel mills during 2015 and we have our revised our production forecasts for the country downwards in reflection of this.

BMI's Q115 Czech Republic Metals Report assesses the challenges facing the country's steel sector as it battles against faltering demand in the wake of ongoing uncertainty surrounding the outlook for the eurozone economy. Czech steel production contracted by more than 9% in 2012, only to recover some of its lost growth in 2013. Accelerating output growth appeared to suggest that production was en route to expand by more than 6% over 2014; however, since then we have seen a drop-off in Czech steel production volumes, linked to the country's weakening industrial production data. The Czech steel sector has traditionally been one of the strongest in Europe and has been supported, in particular, by the country's close proximity to economic juggernaut Germany, while strong ties to Russia have provided a steady flow of raw materials to local steelmakers.

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The worsening outlook for the Czech steel sector reflects what we see as a rapidly deteriorating outlook for the economy of the eurozone and hence steel demand. In this sense, the Czech Republic's proximity to neighbouring economic powerhouse Germany is both a blessing and a curse. Germany is the country's largest export market, receiving more than 30% of Czech goods. As such, a strengthening German economy has provided the catalyst for the recovery in Czech steel production witnessed over 2013 and H114. However, a since slowing German GDP growth has been showing signs of filtering through to Czech industrial output and steel production, which contracted during August and September 2014.

Looking ahead to 2015 and beyond,...

The Czech Republic 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 Czech Republic.

BMI's Czech Republic 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 Czech Republic.

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