Boston, MA -- (SBWIRE) -- 02/12/2014 -- We expect subdued growth in both production and consumption of most metals in Australia as a weakening global commodity market continues to take its toll on the economy. While significant additional global monetary stimulus should help to boost metal prices in the near term, the bout of loosening measures will be insufficient to stem the slowdown and the medium-term outlook for metals remains weak.
The slowdown in the metals industry in Australia is best exemplified by monthly crude steel production, which has continued to slide into negative territory following growth in 2013. Weak demand from slowing domestic construction and a cooling export market will continue to undermine Australia's steel industry in 2014. We do not expect crude to approach pre-crisis levels for many years. The country's two dominant steel producers, BlueScope Steel Ltd and Arrium Ltd (previously known as OneSteel Ltd), have embarked on a series of consolidation plans and restructuring programmes aimed at reducing operating costs and curbing overcapacity amid an environment of weak demand and declining steel prices.
View Full Report Details and Table of Contents
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. 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.
Browse all Materials research reports at Fast Market Research
You may also be interested in these related reports:
- Iran Metals Report Q2 2014
- Egypt Metals Report Q2 2014
- Sweden Metals Report Q1 2014
- Brazil Metals Report Q1 2014
- Malaysia Metals Report Q1 2014
- Czech Republic Metals Report Q1 2014
- South Korea Metals Report Q1 2014
- United States Metals Report Q1 2014
- Canada Metals Report Q1 2014
- Russia Metals Report Q1 2014