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United Arab Emirates Metals Report Q1 2015

United Arab Emirates Metals Report Q1 2015

BMI View: The UAE will see rapid growth in metals consumption over the coming years after a slew ofconstruction projects. Production growth will also be high given expansion plans by the major players andthus the UAE will remain a major metals exporter in the region.

We expect the UAE to be a key driver of metals demand on a global level as the country embarks on aninfrastructure spending binge. Given our expectation for rapid growth in the economy, as well as the hostingof the World Expo 2020, steel and aluminium consumption growth will be in double digits for the period to2018. Production growth will also be significant given plans by Emirates Global Aluminium and EmiratesSteel and ensure the country maintains its position as the Gulf's largest metals exporter in the comingdecade.


BMI Industry View
SWOT
Metals SWOT
Industry Forecast
Aluminium: Rapid Growth In Consumption
Consumption: Growth Bolstered By Expo
Balance: Growth In Aluminium Exports & Bauxite Imports
Table: Aluminium Production & Consumption (United Arab Emirates 2010-2018)
Steel: Increasing Reliance On Imports
Table: Steel Production & Consumption (United Arab Emirates 2010-2018)
Table: Steel Industry Historical Data (United Arab Emirates 2005-2012)
Regulatory Development
Highly Favourable Business Environment To Remain
Table: UAE - Political Table
Commodities Forecast
Table: BMI Steel Price Forecast
Short-Term Outlook (three-to-six months)
Long-Term Outlook
Production Growth Set For Slowdown
Consumption Growth To Disappoint
Downside Risks To Price Outlook
Table: Steel Data & Forecasts
Commodity Strategy
Ferrous Metals
Non-Ferrous Metals
Aluminium: Sustained Break Unlikely
Copper: Prices To Decline Further By 2015
Nickel: Increase From Current Lows, But No Return To H114 Highs
Zinc: Tighter Supplies To Be Offset By Subdued Demand
Table: Select Commodities - Performance & BMI Forecasts
Competitive Landscape
Table: Middle East - Largest Listed Metal Producers
Company Profile
Emirates Global Aluminium
Emirates Steel
Methodology
Cross Checks

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