BMI's Czech Metals Report for Q2 2014 assesses the growth prospects for the country's steel sector during 2014 and presents medium-term growth forecasts for steel production to 2018. In Q2 we believe the country's metals sectors will begin to witness a gradual recovery in production levels, following two years of contraction in steel output. The report analyses the reasons for the recovery as well as the ongoing challenges faced by Czech Republic steelmakers over the medium term.

BMI Industry View 5

SWOT 6

Metals SWOT 6

Industry Forecast 7

Steel: Marginal Growth But Conditions Remain Challenging 7

      Table: Czech Republic - Steel Industry Forecasts ('000 tonnes, unless stated otherwise) 10

      Table: Czech Republic - Steel Industry Historical Data ('000 tonnes, unless stated otherwise) 10

Regulatory Development 11

      Table: Czech Republic - Political Overview 11

Commodities Forecast 13

      Table: BMI Steel Forecast 13

      Table: Steel Data And Forecasts, 2009-2017 21

Commodity Strategy 21

Steel: Locked In Secular Downtrend 24

Aluminium: US$1,800/tonne To Provide Strong Support 24

Copper: Bearish View In Place Despite Some Recovery 25

Nickel: Despite Recent Gains, Downside Risks Dominate 27

Zinc: Channelling Support 29

      Table: Select Commodities - Performance & BMI forecasts 31

      Table: BMI Commodities Strategy 31

Competitive Landscape 32

      Table: Europe - Listed Metals Producers 33

Company Profile 35

Železiarne Podbrezová 35

ArcelorMittal 37

Company Strategy 40

Latest Financial Results 41

Company Details 42

Financial Data 42

      Table: ArcelorMittal - Key Financial Data 42

Methodology 43

Cross Checks 43

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