Sweden Metals Report 2015
BMI View: Sweden's metals industry is facing into a number of global headwinds, including excess steelsupply and sluggish consumption across much of the eurozone. A positive is an improving outlook for localsteel demand as autos production and construction activity pick up. Swedish steel producers, includingindustry leader SSAB have been restructuring and appear well placed for the upside once prices start torecover.
Sweden is a mid-sized European steel producer and has a strong reputation for making high-end products.
The country is also an important supplier to the European autos industry, which means producers have feltthe effects of the eurozone crisis which has weighed on steel demand across the region. More recently,significant growth in Chinese steel exports has led to oversupply and a drop in prices. This has ledsteelmakers to limit capacity and to heavy contractions in Swedish output, interspersed with sluggishgrowth in recent years.
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