Australia Metals Report Q1 2015

Business Monitor International
October 29, 2014
60 Pages - SKU: BMI5365570
Countries covered: Australia

Australia Metals Report Q1 2015

BMI View: Australia will see subdued growth in both production and consumption of most metals as aweakening global commodity market continues to take its toll on the economy. While significant additionalglobal monetary stimulus should help to boost metal prices in the near term, the bout of loosening measureswill be insufficient to stem the slowdown and the medium-term outlook for metals remains weak.

We expect a slowdown in the metals industry in Australia on the back of slowing demand in China. Weakdemand from slowing domestic construction and a cooling export market will continue to undermineAustralia's steel industry in 2015 and beyond. We do not expect crude to approach pre-crisis levels for manyyears. The country's two dominant steel producers, BlueScope Steel Ltd and Arrium Ltd (previouslyknown as OneSteel Ltd), have embarked on a series of consolidation plans and restructuring programmesaimed at reducing operating costs and curbing overcapacity amid an environment of weak demand anddeclining steel prices.



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