New Market Report Now Available: United States Metals Report Q3 2013

From: Fast Market Research, Inc.
Published: Fri Jul 05 2013

Our forecasts across the refined metals sector in the US remains mixed as the country's economic recovery remains tenuous and long-term trends of declining consumption continue to play out. In the short term, we anticipate refiners and metal producers will continue bringing production back online as the country's economic outlook improves, particularly in the construction and automotive sectors. That said, production and consumption will likely remain below pre-crisis levels as Chinese growth slows in H213 and eurozone uncertainty loom over the global economy.

We believe slow but steady growth in the metals sector will roughly track broader GDP growth, which we forecast to average 2.4% from 2013 to 2017. Gains in the manufacturing, including automotive, and construction sectors should lead to steady, though low, growth. However, metals demand will be sensitive to weaker federal spending, private inventory investment, and exports. Data available through March 2013 indicate that while metal industry activity has increased in recent months, the end of Q113 showed potential slowing in the metals industry. High global inventories and lower global growth, combined with lower metal consumption intensity, will weigh on both production and consumption and keep any gains minimal.

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The US metals sector does rely somewhat on imports of some mineral inputs such as bauxite and tin. We forecast little change in the nature of US metals trade, but recognise that sharp changes to metals prices could impact this dynamic. We expect the bulk of metals sector production will be supplied by domestic mineral resources to support US industries rather than for export abroad. We also note that domestic US companies will dominate production of their respective metals, although laws on foreign ownership of US based companies enables some foreign companies to operate as well.

Construction And Automotive Sectors To Drive Growth

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- United Kingdom Metals Report Q3 2013
- United States Mining Report Q3 2013

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