2013-12-06 10:47:17 - New Materials market report from Business Monitor International: "Poland Metals Report Q1 2014"
Although we are optimistic about Poland's economic growth prospects, expecting an expansion of 1.5% in 2013 (recently revised downwards from 1.9%) and steady headline GDP expansion thereafter, we are more cautious regarding metal consumption and production prospects. Key metal consuming segments such as autos and particularly construction will underperform.
Looking at the longer term, we expect growth in Poland as an autos export hub to remain steady, though construction activity will be underwhelming. Production of steel, copper and lead will grow, but at a slower rate than demand. Investment into production facilities will be restrained by several factors including stagnant domestic mine production, higher taxes and low metal prices.
The Polish metals industry is fairly concentrated, with international operators ArcelorMittal and KGHM
dominating steel and copper production, respectively. KGHM is a domestic company with global ambitions, having embarked on a strategy of growth through international acquisitions. The company is also reported to be involved in the construction of two coal-fired units with state-controlled PGE in the southern city of Opole. Such expansion will be challenged by our expectation for copper prices to trend lower in the years ahead.
Full Report Details at
Report Table of Contents:
BMI Industry View
- Metals SWOT
- Steel: Waiting On An Autos Sector Recovery
- Table: Poland - Steel Historic Data & Forecasts ('000 tonnes, unless stated otherwise)
- Table: Poland - Steel Historical Data ('000 tonnes, unless stated otherwise)
- Copper: Surplus To Stagnate
- Table: Poland - Refined Copper Production, Consumption & Balance ('000 tonnes, unless stated otherwise)
- Table: Poland - Political Outlook
- Iron Ore: Rally To Fade In Q413
- Steel: Supply Glut To Endure
- Aluminium: Surge Gives Way
- Copper: Weak Outlook
- Lead: Short-Term Weakness
- Nickel: Still The Laggard
- Zinc: Still A Surplus Market
- Table: Select Commodities - Performance And BMI Forecasts
- Table: Global Commodities Strategy
- Steel Price Forecast
- Table: BMI Steel Forecast
- Table: Steel Forecast
- Table: Europe - Largest Listed Metal Producers
- Table: KGHM - Key Financial Data
- Company Strategy
- Company Details
- Financial Data
- Table: ArcelorMittal - Key Financial Data
- Cross Checks
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