We expect the UK autos industry to provide a much needed boost to domestic steel demand, as both vehicle demand and production continue to recover. However, conditions for firms in the steel industry will remain challenging due to a combination of low output prices, high input costs, regulation and weak external demand for UK steel exports. Opportunities for local firms exist in servicing domestic manufacturing such as autos and demand for high end steel products in fast growing but lower technology emerging markets. The impact of the UK construction sector may be slightly more moderate, however. Despite robust growth in overall activity, especially house building, the results of a survey by Markit Economics showed that the Markit/Chartered Institute of Purchasing & Supply UK Construction Purchasing Managers' Index fell to 60.8 in April 2014 from 62.5 a month earlier - equating to the slowest growth for six months.
On an intercontinental level, in February 2014, the European Parliament passed a resolution backing a plan to revive the bloc's steel industry, calling on the European Commission (EC) and member states to adopt "economically feasible" climate and energy targets. The resolution came just two weeks after the EC scaled down its 2030 climate and energy targets and underlines a new sense of pragmatism in Brussels at a when European growth is slow. In a move unlikely to be popular with the green lobby, the resolution said the most energy...
The United Kingdom 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 United Kingdom.
BMI's United Kingdom 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 United Kingdom.Key Benefits
CoverageBMI Industry View
- Benchmark BMI's independent metals industry forecasts for United Kingdom to test other views - a key input for successful budgeting and strategic business planning in the United Kingdom metals market.
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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 Analysis
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.Industry Forecasts
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 (%).Macroeconomic Forecasts
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).
After a strong year for the UK steel industry in 2013, we are forecast ing a muted recovery going forward . In line with its European counterparts, the UK metals industry has been rocked by low profitability that has led to capacity reductions and disinvestment. However, the worst is probably over for the UK, as slightly stronger domestic demand and recent investment from international firms such as Sahaviriya Steel Industries and Tata Steel should arrest the decline in sector fortunes.