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New Market Report: Russia Metals Report Q1 2014

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2014-01-26 18:17:18 - Fast Market Research recommends "Russia Metals Report Q1 2014" from Business Monitor International, now available

The Russian metals sector will face headwinds over coming quarters as European and US demand remains weak and global oversupply weighs on metal prices. We expect production of key metals to remain modest, with company investment plans focusing on improving plant efficiency and reducing costs rather than building new plants or expanding production capacity. Despite weak growth, Russia will remain one of the world's largest producers of base and industrial metals including nickel, steel and aluminium.

Steel, Aluminium & Nickel Supply Glut To Weigh On Growth

We expect Russia's rank among global steel producers to come under threat, as the country's largest steelmakers experience squeezed margins resulting in production cuts. Russian steel consumption will be boosted by the country being awarded a

number of large-scale events to host in the country, which has brought substantial investment into construction. However, the global steel market will remain mired in significant overcapacity, sluggish demand and weak margins for the foreseeable future.

Full Report Details at

Global aluminium oversupply will continue to precipitate weak aluminium prices. We expect prices to head modestly higher over the period to 2017, but fail to return to their 2011 peaks. Aluminium prices averaged US$2,421/tonne in 2011, while we forecast prices to average US$2,013/tonne over the period 2014-2017. Russia's largest aluminium producer, Rusal, has demonstrated weak performance over the past financial year as a result of low prices.

We expect weak growth in Russian nickel production of just 0.9% y-o-y from 2013 to 2017, reaching 274.7kt in 2017. Global nickel inventories continue to rise, compounding what is an already oversupplied market. LME stockpiles reached 256kt in Q413, with no reversal of this trend in sight.

Oligopolies To Remain In Place

Russian metals output is highly consolidated within each metal segment, as restrictive foreign ownership rights and established oligopolies prevent foreign competition. Within nickel production, Norilsk Nickel is the primary producer and also a major mining company. Its vertical integration across mining and refining capacity will allow it to remain the largest nickel producer in Russia for the foreseeable future. Similarly, steel and aluminium production are consolidated among just a few producers. We do not expect the metals sector to diversify significantly over our forecast period to 2017.

Report Table of Contents:

The table of contents for this report is available upon request.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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