Sweden Metals Report Q2 2012
Business Monitor International, May 2012
Business Monitor International's Sweden Metals Report provides industry professionals and strategists, corporate analysts, metals associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Sweden's metals industry.
The outlook for the Swedish steel industry looks favourable compared to the rest of Europe in 2012, but challenges facing the European automotive industry pose a major downside risk, according to BMI’s latest Sweden Metals Report.
In 2011 Swedish crude steel output grew 0.5% y-o-y to 4.89mn tonnes. This follows 72.7% growth in 2010. Monthly output returned to pre-recession norms in H111, but dropped off in H211 as export performance declined and capacity utilisation was reduced. In H211, output was down 8.7% y-o-y and down 25.4% compared to H111. Domestic consumption also showed signs of softening. Consumption grew 5% to 3.8mn tonnes in 2011. Meanwhile, import growth was 1.6 to 3.9mn tonnes. Sweden’s exports were estimated at 3.93mnt (up 8%) in 2011.
In February 2012, SSAB decided to postpone the restart of one of its three blast furnaces in Sweden due to weak market conditions. One of two blast furnaces in Oxelsoeund was shut down in mid-2011 for relining, which was completed by October. SSAB said it was monitoring the market on a weekly basis and would only bring the furnace back online when prices had improved. It had built up inventories of steel slab before the furnace was shut down, but as these stocks were depleted it increased production at its Lulea blast furnace. SSAB’s Swedish operations were working at about 75% in Q112, up from 70% in H211. This helped raise monthly output to the 400,000-420,000 tonnes range, up from an average of 370,000 tonnes in Q411.
Increased production at SSAB, even without the resumption of activities at the blast furnace at Oxelsoeund, should help Sweden raise production by 2% to 4.42mn tonnes. However, there are considerable downside risks. With 60% of total production comprised of alloyed steel, including stainless, the sector is likely to be heavily influenced by the trends in the automotive industry. The eurozone debt crisis is set to knock demand for vehicles in the EU and Swedish steel will have to find new routes to market.
At present, we are forecasting 2.2% growth in domestic finished steel consumption to 3.88mn tonnes and 4.4% growth in exports of semi-finished and finished steel to 4.11mn tonnes. If achieved, this would mean that Sweden would be one of the few major steelmaking countries to buck the EU trend, but risks are heavily to the downside. A wind-down of inventory restocking, tightening government spending and base effects following the post-recession capital investment boom will all contribute to a deceleration in the Swedish metals industry. We stress though, that Sweden will remain one of the fastest growing economies in Western Europe through the long term, with a sustainable growth model and limited macroeconomic risks.
WHY BUY THIS REPORT?
- Benchmark BMI's Independent 5-year Metals Industry Forecasts for Sweden to test other views - a key input for successful budgeting and strategic business planning in the Sweden Metals market.
- Target Business Opportunities & Risks in Sweden through our reviews - and major deals, projects and investments.
- Exploit Latest Competitive Intelligence & Company SWOTS on your competitors and peers through company rankings by sales, market share and ownership structure – includes multi-national and national companies.
Executive Summary
SWOT Analysis
Sweden Political SWOT
Sweden Economic SWOT
Sweden Business Environment SWOT
Global Market Overview
Steel Market
Table: BMI’s Steel Forecasts
Table: Steel Products And Inputs – Price Data
Commodities Forecast
Gold
Copper
Aluminium
Lead
Nickel
Tin
Zinc
Europe Overview
Forecast Scenario
Table: Sweden’s Steel Industry, 2009-2016 (‘000 tonnes unless stated)
Macroeconomic Outlook
Table: Sweden –Contribution To GDP Growth By Expenditure, 2009-2016
Competitive Landscape
Table: Swedish Steel Capacity, 2007
Table: Main Steel Producers In Sweden
Company Profiles
Outokumpu
Ovako
RUSAL
Sandvik Materials Technology (SMT)
SSAB
Global Assumptions, Q212
Table: Global Assumptions, 2010-2016
Table: Global And Regional Real GDP Growth, 2010-2013 (% change y-o-y)
Table: Developed Market Exchange Rates, 2011-2013
Table: Emerging Market Exchange Rates, 2010-2013
Developed States
Table: Developed States – Real GDP Growth, 2010-2013
Emerging Markets
Table: Emerging Markets – Real GDP Growth. 2010-2013
Consensus
Table: BMI And Bloomberg Consensus Real GDP Growth Forecasts, 2011 And 2012 (%)
Country Snapshot: Sweden Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Wages, 2000-2012
BMI Methodology
How We Generate Our Industry Forecasts
Cross Checks
- Outokumpu
- Ovako
- RUSAL
- Sandvik Materials Technology (SMT)
- SSAB
Product Samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
