Austria Metals Report 2016
BMI View: Though not counted among Europe's largest metals producers, Austria is building a worldwidereputation as a developer of high-end steel products, a development that is helping to insulate localcompanies from many of the challenges facing European steelmakers.The continued expansion of industryleader Voestalpine should ensure that domestic steel output grows at a steady, albeit marginal, rate overthe next few years.
As a mid-range producer, the fortunes of Austria's steel sector remain very much tied to those of the widerEuropean steel industry. Over recent years, the region's steelmakers have faced a growing list of challengesthat have included economic recession, a collapse in demand and falling prices. Now producers are findingthemselves having to compete against a rising tide of cheap steel imported steel products from China andother markets. China's total steel exports grew by more than 25% y-o-y during the first eight months of2015, following a 50% increase witnessed during the 2014 full-year. Meanwhile a growing steel surplus hasresulted in downwards pressure on prices on the international market, causing the global average steel priceto decline from USD854/tonne in 2011 to USD580/tonne in 2015.
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