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New Report Available: Taiwan Metals Report Q2 2013

Fast Market Research recommends "Taiwan Metals Report Q2 2013" from Business Monitor International, now available

 

Boston, MA -- (SBWIRE) -- 06/12/2013 -- BMI's Taiwan Metals Report for Q2 2013 looks at domestic infrastructure spending in Taiwan and how this will affect the prospects of the country's steel makers in 2013. We expect a stronger 2013 for the industry after a very weak 2012.

The Taiwanese steel industry was able to reverse its standing from the worst-performing country in the Jan-Oct 2012 period to third best in Asia (Asia includes = China, India, South Korea, Japan only). Taiwanese crude steel production volumes fell 9.8% year-on-year (y-o-y) to 17mnt (million tonnes) in the first 10 months of 2012 but was able to notch a y-o-y increase of 2.4% in 2012 to reach 20.7mnt.

Efforts are underway to improve the competitiveness of the Taiwanese steel industry. The China Steel Corporation (CSC) is looking to improve profitability in an increasingly difficult market environment. CSC is Taiwan's largest steelmaker, with over 50% of the domestic market. With this in mind it is undertaking reconstruction of its continuous annealing line, which is expected to help produce better products with lower costs and using less electricity.

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BMI reports the following forecasts/views:

- The downturn in the steel industry is directly related to the fall in orders from China as well as declining domestic manufacturing production. Things have picked up significantly since reaching what we believe is a bottom in September 2012. We look forward to a more positive 2013.
- Taiwan's steel production levels will recover in 2013 with growth of around 5%, reaching 21.69mnt if output, as domestic infrastructure spending will serve to soak up demand. Capacity expansion and a focus on increasing product value and efficiency savings should support growth and improve profitability.
- CSC is set to increase its production capacity from 12.5mn tonnes per annum (mntpa) to 15mntpa by the beginning of 2013 as the company completes the expansion of its wholly owned subsidiary, Dragon Steel. Given our negative view on the Chinese economy, it remains to be seen whether CSC will be able to profitably utilise the additional capacity.

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