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Follow on Google News | New Market Research Report: South Korea Metals Report Q3 2011Fast Market Research recommends "South Korea Metals Report Q3 2011" from Business Monitor International, now available
Output growth has been assisted by a massive increase in crude steel production capacity with Hyundai Steel starting two new furnaces at Dangjin, each with a capacity of 4mn tonnes per annum (tpa). The furnaces started operations in April and November respectively, raising capacity by 25%. Korean steelmakers remain upbeat. Hyundai Steel sees its supply of automotive steel to affiliates Hyundai Motor and Kia Motors rising more than 50% in 2011 on the back of their strong sales growth. Hyundai Steel's increased supplies to parent Hyundai Motor Group challenges POSCO's dominance. At present, Hyundai Motor Group sources three-quarters of its steel requirement from POSCO and Japanese steelmakers. The proportion taken by its steel subsidiary is set to increase as it seeks to expand its supply units for tighter vertical integration. Hyundai expects to supply more than 2mn tonnes of automotive steel to Hyundai Motor and Kia in 2011, raising its share of supply to the two companies to 30%. This will increase further in 2013 with the addition of a third blast furnace that will increase supply of steel to the motor companies. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ BMI foresees a surge in Korean production in 2011 due to increased capacity, continued growth in the global economy and the effects of the Japanese earthquake on the regional steel market. Even before the earthquake struck Japan in March, Korean steel exports were surging and the outlook was bright. South Korea should see its production of heavy plate cemented by the resultant demand growth. As of early March 2011, South Korean shipbuilders took 32.3% of overall global order backlogs, up 0.4 percentage points (pp) from the previous month, while Chinese shipbuilders' share fell 0.3pp to 38.1%. While the shipbuilding industry is raising domestic heavy plate demand, the car industry is fuelling stainless steel production. BMI maintains its forecast of 23.8% growth in crude steel output to a record high of 72mn tonnes in 2011, assisted by recent capacity expansion and rising demand in every steel consuming sector except construction. Domestic consumption of finished steel products is forecast at 55.12mn tonnes in 2011, with a further 26.6mn tonnes of semi-finished and finished steel exported. Exports will be encouraged, not just by the effects of the Japanese earthquake, but also by growth in demand from India as well as the expansion of the supply chains of Korean steelmakers such as POSCO and Hyundai Steel. BMI forecasts a 12.6% decline in imports to 23.75mn tonnes due largely to an increase in domestic supply. Hot-rolled output is also set to rise 12.7% to 72.78mn tonnes. Report Table of Contents: SWOT Analysis - South Korea Political SWOT - South Korea Economic SWOT - South Korea Business Environment SWOT Global Market Overview - Steel Forecast - Steel to Average US$580/tonne In 2011 - BMI Steel Forecast - Steel Prices - Cost Push On The Supply Side - Few Supply Constraints In Sight, For Now Commodities Forecast - Commodity Strategy - Metals Update - Aluminium - Copper - Gold - Lead - Nickel - Tin - Zinc Regional Overview - Table: Top 10 Asian Steel Producers, 2009 Forecast Scenario - Table: South Korea Metals Industry ('000 tonnes unless stated), 2008-2015 - Macroeconomic Forecasts - South Korea - Economic Activity Competitive Landscape Company Profiles - Pohang Iron and Steel Company (POSCO) - Hyundai Steel Global Assumptions, Q311 - Table: Global Assumptions, 2009-2015 - Table: Global And Regional Real GDP Growth, 2010-2013 (% change y-o-y) - Table: Selected Exchange Rates, 2010-2013 (average) - Developed States - Table: Developed States' GDP Growth, 2010-2013 (% change y-o-y) - Emerging Markets - Table: Emerging Markets' GDP Growth, 2010-2013 (% change y-o-y) - Consensus Forecasts - Table: Bloomberg Consensus GDP Growth Forecasts, 2011-2012 (% change y-o-y) Country Snapshot: South Korea Demographic Data - Section 1: Population - Table: Demographic Indicators, 2005-2030 - Table: Rural/Urban Breakdown, 2005-2030 - Section 2: Education and Healthcare - Table: Education, 2002-2005 - Table: Vital Statistics, 2005-2030 - Section 3: Labour Market and Spending Power - Table: Employment Indicators, 2001-2006 - Table: Consumer Expenditure, 2000-2012 (US$) - Table: Average Annual Wages, 2000-2012 BMI Methodology - How We Generate Our Industry Forecasts - Cross Checks 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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