BMI's latest Austria Metals Report assesses the prospects for growth in the steel industry over the medium-term following a decline in output but an increase in consumption in 2012. Within it, we have extended our forecasts for the industry out to 2018. The report examines the risk and investment strategies of leading players in the industry. It also examines the impact of a decline in the eurozone, particularly the German market, on Austrian exports. The performance of Austria's steel industry is estimated by BMI to have deteriorated during 2012 with crude output in decline by 0.6% to 7.42mnt. This was thanks to output bouncing back in the last two months of 2012 with November and December output rising by 12.8% and 25.8%, respectively. Consumption levels did increase in 2012, however, by 0.5% y-o-y from 4.52mnt as of December 31 2011 to 4.54mnt a year later.
| Slight Decline On The Horizon |
|Austria - Steel Output & Growth|
Austrian steelmaking has suffered from the structural oversupply of standard grades, which has driven down prices on the EU market despite cutbacks in output. This has put downward pressure on margins, although there is no immediate sign of any idling of capacity. Despite the fact that volume has contracted, Austria still outperformed the 4.6% contraction reported for the whole of the EU. Austria's dominant steelmaker Voestalpine is also upbeat, expressing its confidence that business will pick up. While volume may not increase, sales could be boosted by a rise in product prices. Capacity constraints will prevent any further significant growth in crude steel beyond pre-crisis levels over the long term, although BMI expects investment in downstream sectors.
In June 2013, the European Commision (EC) introduced the 'EU steel action plan'. The move represents the first comprehensive attempt by the Commission to stem a decline in the steel sector since the Davignon Plan sought to tackle an industry slump in the mid-1970s. The plan, presented by...
The Austria 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 Austria.
BMI's Austria 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 Austria.
- Benchmark BMI's independent metals industry forecasts for Austria to test other views - a key input for successful budgeting and strategic business planning in the Austria metals market.
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BMI Industry View
Summary of BMI's key forecasts and industry analysis, covering metals production and prices, plus analysis of landmark company developments and key changes in the regulatory environment.
SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the state's metals sector, business environment, politics and economics, which carefully evaluates the short- and medium-term issues facing the industry.
Global Metals Market Overview
Global demand, supply and price forecasts for steel and aluminium, as well as gold, copper and tin, drawing on both our industry expertise and our macroeconomic and financial market team's long-term global demand forecasts and shorter-term market views.
Historic data series and forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast.
Production (`000 tonnes, US$bn), consumption (`000 tonnes, US$bn), exports (`000 tonnes, US$bn); prices (US$/tonne), and growth (%).
BMI forecasts to end-2018 for headline country macroeconomic indicators, including real GDP growth (%), GDP per capita (US$), population (mn), industrial production index (% y-o-y average) and unemployment (% of labour force).