Ukraine's metals sector will see modest growth over the forecast period, with a handful of new projects to increase production growth. Production will not return to pre-crisis highs, however, due to global overcapacity and steel prices not making substantive gains over 2013. There are no major expansions on the cards, and no major players in either the aluminium or steel industries have announced substantial investment plans.

BMI Industry View . 5

SWOT 7

Metals SWOT 7

Industry Forecast 9

Steel: Looking To Domestic Demand . 9

      Growth To Pick Up Thanks To Construction . 9

      Table: Ukraine - Steel Production And Consumption, 2009-2017 ('000 tonnes) . 12

      Table: Ukraine - Steel Industry Historical Data, 2003-2011 ('000 tonnes, unless stated otherwise) 12

Commodities Forecast . 14

Commodity Strategy . 14

      Aluminium: Small Rebound 17

      Copper: Sideways Trading To Give Way . 18

      Nickel: Still No Relief 21

      Zinc: Short-Term Strength . 23

      Table: Select Commodities - Performance & BMI Forecasts 24

      Table: Global Commodities Strategy . 25

Commodities Forecast 26

      Table: BMI Steel Forecast 26

      Table: Steel Forecast . 34

Competitive Landscape 35

      Table: Largest European Listed Metals Producers 37

Company Profile 39

ArcelorMittal 39

      Company Strategy 42

      Company Details . 43

      Financial Data 44

      Table: ArcelorMittal - Key Financial Data . 44

RUSAL 45

      Table: RUSAL - Key Financial Data . 49

Methodology 50

Cross Checks 50

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