Thursday, 21 February 2013

Belgium Metals Market Report Q2 2013

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Belgium Metals Report Q2 2013
Feb 20th 2013, 00:00

The outlook for Belgium''s metals sector is poor as overcapacity in China weighs on steel prices, themainstay of the industry. We forecast steel production to reach 7.9mntpa in 2017, significantly lower thanthe 2008 high of over 10mntpa.A decline in demand growth in export markets has dealt a blow for the Belgian steel industry.ArcelorMittal''s planned permanent closure of two blast furnaces in Li?ge, which were shuttered in 2012, isnow inevitable and as a result the industry will not return to pre-2008 levels of production for theforeseeable future. By the end of 2012, available crude steel capacity was limited to just over 8mn tonnesper annum (mntpa), although ...

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