Industry Analysis & Industry Trends
The Iron Smelting and Steel Manufacturing industry has undergone tough structural change over the past five years. Industry revenue is expected to decline at an annualised 8.4% over the five years through 2016-17, to $9.1 billion. Falling demand from downstream markets, lower steel prices and competition from import markets have created industry production overcapacity. Falling iron and steel production volumes are also likely to contribute to a 7.9% drop in industry revenue over 2016-17. Although lower prices can boost demand for steel products, the net effect is generally negative, as manufacturers generate less revenue per product... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Iron Smelting and Steel Manufacturing industry is in the declining stage of its economic life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is forecast to decline at an annualised 1.9% over the 10 years through 2021-22. The industry is therefore expected to underperform overall GDP, which is projected to grow at an annualised 2.6% over the same period. This indicates the industry's contribution to the overall economy is shrinking.
The industry has declined over the past five years due to lower steel prices, weak demand for steel from key downstream markets, and competition from substitute goods and import markets. The industry's products, technology and markets are all extremely well established... purchase to read more