Mudis agency saw prospects in the European metallurgical industry

According to the new report of the Moodis investment agency (Moody `S Investors Service), fundamental factors are improving in the European metallurgical industry, including some kind of growth in eurozone and domestic markets of clients. Today it revised its view of the European steel industry, changing its forecast from negative to stable.

The foggy prospects of the industry that have disturbed the analysts of the Mudis since October 2011 become more understandable, according to the review of the “fundamental conditions for doing business in Europe for the metallurgical industry over the next 12 - 18 months”.

The agency believes that steel consumption in the European Union will be in the same plane, showing an insignificant growth of growth in 2014 after a reduction by 2 percent in 2013.

Denis Perevezentsev, analyst Mudis and the author of the review, said that “despite the inconsistency of the economic situation in the eurozone, we see some restoration of the European steel industry. Next year, we also expect an improvement in industry sectors - end consumers of metallurgical products. For example, in construction and automobile sectors. And this will support the growth of demand for suppliers in metallurgy. "

Mudis also improved the macroeconomic forecast for GDP eurozone GDP from zero to 0.5 - 1.5 percent in 2014 after reduction by 1 percent this year.

For Russia, Mudis has good news - here they hope to 2.5 - 3.5 percent of growth next year after a slowdown of up to 1 - 2 percent in 2013.