Netherlands Metals Report

Published 13 May 2015

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Netherlands Metals Report

BMI View:   After back-to-back years of volatility in the Dutch metals sector, 2014 looks to have laid the foundation for a prolonged period of stability in terms of both production and consumption. This positive momentum in the sector is set to continue through to the end of our forecast period in 2018. BMI expects steel to continue to dominate the country's metals industry; however, we see no significant new investment in the sub-sector over the coming years. Tata Steel, the largest producer in the country, is facing up to an increasingly hostile and competitive operating environment, with cheap steel and aluminium being exported from China. Nevertheless, opportunities remain in high-quality steel, of which the Netherlands is a key producer.

Long-Term Growth In Output

After posting a contraction in both production and consumption in 2012 and 2013, 2014 heralded a turnaround for the steel industry. We expect the year to close with output up 1.4% and consumption up 2.1% y-o-y. However, BMI cautions that monthly data for steel production in the Netherlands suggests that a strong close to the year will be necessary for such estimates to become a reality. Over the first eight months of the year (correct to data published for August) output rose for five months and contracted for three. Although this leaves the market sat below where it started in 2014, we still maintain our year-end estimates.

Tata Steel Europe, the largest producer in the country, is steadily increasing investment. It is spending EUR800mn in increasing liquid steel-making capacity at IJmuiden by 500,000 tonnes per annum (tpa) to 7.7mn tpa by 2015-16, while reducing jobs by 1,000. This should significantly improve the competitiveness of its IJmuiden complex. The company is investing EUR12mn in enhancing production of specialised corrosion resistant steel with a new finishing line for hot dipped galvanised steel. As a result, the IJmuiden complex will buck the trend of capacity closures seen...

BMI Industry View
5
SWOT
7
Metals SWOT
7
Industry Forecast
9
Steel: Growth To Head Higher
9
Table: Steel Production & Consumption (Netherlands 2011-2019)
12
Table: Steel Industry Historical Data (Netherlands 2006-2013)
12
Regulatory Development
13
Table: The Netherlands - Political Overview
13
Commodities Forecast
15
Table: BMI Steel Price Forecast
15
Market Balance: Declining Surpluses In Years Ahead
18
Table: Steel Forecasts
22
Competitive Landscape
23
Table: Largest Listed European Metals Producers
24
Company Profile
25
Global Company Strategy - Tata Steel Limited - 2015
25
Company Overview
27
Company Strategy
27
Table: Tata Steel-Key Financial Data
28
Methodology
29
Cross Checks
29

The Netherlands Metals Report has been researched at source, and features latest-available data for steel, aluminium and other major globally-traded commodities. Our analysis covers all primary indicators, including production, exports and price, with our forecasts underpinned by BMI Research's macroeconomists global economic outlook. The report analyses trends and prospects and critically evaluates latest industry news, trends and regulatory developments in Netherlands.

BMI's Netherlands Metals Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the metals industry in Netherlands.

Key Benefits

  • Benchmark BMI's independent metals industry forecasts for Netherlands to test other views - a key input for successful budgeting and strategic business planning in the Netherlands metals market.
  • Target business opportunities and risks in Netherlands through our reviews of latest industry trends, regulatory changes and major projects and investments.
  • Exploit the latest competitive intelligence and company profiles on your competitors and peers.

Coverage

BMI Industry View

A comprehensive summary of the impact and implications of the latest regulatory developments and key forecast indicators covering metals production, consumption and upside/downside risks to our outlook. The Metals SWOT analysis outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

Industry Forecast

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Steel: Steel production & consumption (‘000 tonnes).
  • Aluminium: Aluminium consumption production & balance (‘000 tonnes).
  • Copper: Refined copper production & consumption (‘000 tonnes).
  • Zinc: Refined zinc production & consumption (‘000 tonnes).
  • Lead: Refined Lead production, consumption & balance (‘000 tonnes).
  • Nickel: Refined nickel production & consumption (‘000 tonnes).
  • Tin: Refined tin production, consumption & balance (‘000 tonnes).

Regulatory Development

Details of the industry regulatory framework, relevant key legislation and environmental standards that impact the metals industry. The regulatory developments section provides analysis of the overall regulatory burden, the tax regime (including income tax rates), bureaucratic framework, corruption and a country specific political overview. Details of the industry regulatory framework provide information on relevant key legislation and regulations that will impact the metals industry.

Commodities Forecast

Provides in depth coverage and forecasting of steel prices and includes BMI’s core view of what to expect in upcoming months. Within the monthly metals update, BMI provides performance data and key forecasts for select commodities, including prices for aluminium, copper, gold, iron ore, lead, nickel, palladium, platinum, silver, steel (MEPS Carbon Steel), tin and zinc.

Competitive landscape

The competitive landscape section provides comparative company analyses of detailed financial data for key listed metals firms, ranked in order of market cap (USDmn).

Company Profiles*

Examines the competitive position and short to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects. Details of products and services provide a full overview of each company’s operations.

Sources

The Metals Reports draw on an extensive network of primary sources, such as manufacturing associations, statistical bureaus, government ministries, national chambers of commerce and industry, national statistical offices, government ministries and central banks, and multinational companies.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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