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New Market Research Report: Turkey Metals Report Q1 2014

Fast Market Research recommends "Turkey Metals Report Q1 2014" from Business Monitor International, now available

 
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Boston, MA -- (SBWIRE) -- 12/27/2013 -- Despite relatively weak growth to be expected in the near-term, the medium-term outlook for Turkey's metals sector remains promising due to strong demand from the domestic construction and autos sectors. Near-term headwinds are likely to include currency weakness making imports of materials more expensive and weak global steel prices squeezing steel-makers' margins.

Over the medium-term we forecast Turkey's total steel production to grow from 35.9mnt in 2012 to 42.8mnt in 2017. We expect growth to average 3.6% y-o-y over 2013-2017, a downward revision to our previous forecast of 5.5% y-o-y. This is largely a result of negative growth over the first seven months of 2013 on the back of weak global steel prices and a weak lira pushing up the cost of imports of materials.

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We expect to see Turkey's two largest steel producers, Erdemir and Kardemir, continue to outperform following steady output growth over H113. In July 2013 Standard and Poor's raised Erdemir's long-term corporate credit rating from 'B' to 'B+' reflecting the company's strong operating performance.

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