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Follow on Google News | "Egypt Metals Report Q3 2011" is now available at Fast Market ResearchNew Materials market report from Business Monitor International: "Egypt Metals Report Q3 2011"
In the first four months of 2011, Egyptian crude steel production grew 6.6% y-o-y to 2.1mn tonnes. This follows 21.1% growth to 6.57mn tonnes in 2010, assisted by export growth of 77% to around 963,000 tonnes and 18% growth in domestic finished steel consumption to 8.37mn tonnes. However, compared with the previous four months, output was down 9.8%, hampered to some extent by civil unrest that began in January and its impact on the steel markets, production and logistics. At the same time, spot prices for steel products grew sharply as a result of the turmoil in Egypt, with construction steel reaching US$640/tonne in Jeddah, indicating Egypt's importance to regional steel markets. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ While BMI anticipates a recovery over the rest of 2011, the early poor performance will ensure that output grows just 2% to 6.70mn tonnes. Sustained political stability will be crucial to the operation of the domestic steel industry as well as maintaining a market for output. Any strike action or curfew would pose further setbacks that could undermine the Egyptian steel industry's ability to repeat the strong performance of Q410. The disruptions to production and lower output growth levels are accompanied by a downward revision in BMI's GDP growth forecast from 5.1% to 3.2%. While the devaluation of the Egyptian pound meant that imports fell drastically, the resumption of port operations meant exports were quickly returning to normal, helping to restore sales. Before the unrest broke out, BMI anticipated that the Egyptian metals market would be held back by relatively low domestic demand in 2011, compounded by a downturn in demand in Europe and output expansions in Turkey and the Middle East undermining Egyptian exports. Much of the growth in output in 2010 was driven by collapsing imports, and the one area of consistent improvement throughout the year - exports - was under threat from a renewed slowdown in developed economies and global trade. This effect will be countered to some extent by the fall in the value of the Egyptian pound, which should enable Egyptian producers to compete more effectively with Turkish rivals. Beyond 2011, a rebound in the tourism industry, combined with significant growth opportunities in the banking, housing and infrastructure sectors should ensure that a prolonged period of low growth remains off the cards. Expansion in capacity over the forecast period should ensure that Egyptian crude steel output reaches around 11.56mn tonnes by 2015, as we have forecast previously. That said, there is an element of uncertainty and unforeseen political problems could undermine the steel industry. Some segments will fare better than others, with 4.4-5.6% growth in the construction sector from 2010-2014 likely to buoy demand for rebar and other construction- Report Table of Contents: SWOT Analysis - Egypt Political SWOT - Egypt Economic SWOT - Egypt Business Environment SWOT Global Market Overview - Steel to Average US$580/tonne In 2011 - BMI Steel Forecast - Steel Prices - Cost Push On The Supply Side - Few Supply Constraints In Sight, For Now Commodities Forecast - Commodity Strategy - Metals Update - Aluminium - Copper - Gold - Lead - Nickel - Tin - Zinc Africa Overview - Steel - Aluminium - Table: Aluminium Smelters In Africa Forecast Scenario - Table: Egypt Metals Industry, 2008-2015 ('000 tonnes unless stated) - Macroeconomic Forecasts - Table: Egypt - Economic Activity Competitive Landscape - Table: Ezz Steel Facilities - 2011 Revolution And The Steel Industry - Financial Results Company Profiles - Ezz Steel - Aluminium Company of Egypt (Egyptalum) Global Assumptions, Q311 - Table: Global Assumptions, 2009-2015 - Table: Global And Regional Real GDP Growth, 2010-2013 (% change y-o-y) - Table: Selected Exchange Rates, 2010-2013 (average) - Developed States - Table: Developed States' GDP Growth, 2010-2013 (% change y-o-y) - Emerging Markets - Table: Emerging Markets' GDP Growth, 2010-2013 (% change y-o-y) - Consensus Forecasts - Table: Bloomberg Consensus GDP Growth Forecasts, 2011-2012 (% change y-o-y) BMI Methodology - How We Generate Our Industry Forecasts - Cross Checks 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 http://www.fastmr.com/ 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. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # 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. End
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