NEW YORK (Commodity Online): Risisng demand from the developing regions like India, China and Brazil is expected to fuel the overall global metal market.The market is expected to reach Reach US$872 Billion by 2015, according to Global Industry analysts Inc.(GIA).
The prospects of the global metal market appear to be positive in the near term as factors including growing confidence among investors towards commodities market, increasing consumption in developing nations such as India and China, and sufficient inventory levels are poised to prop up market growth.
The world metals market stabilized in 2010 and 2011 following a steep decline in 2008 and 2009 due to global financial crisis. The decline during the economic recession was significantly higher in developed economies including the US and Europe, while in developing economies the impact was relatively lesser.
The impact of economic crisis was strong on the world aluminum sector. However, the industry picked up momentum driven by growing demand for the metal in developing Asian economies. Subsequent to the financial crisis, aluminum is seen gaining prominence as a commodity in the recovering construction and transportation sectors.
Investments are flooding the global iron ore industry due to rising ore prices, but in the long-run the industry would witness oversupplies of ore. Although this would fulfill the global demand for ore, the prices would fall due to oversupply.
Economic uncertainty continues to bother the steel sector, especially in the US and European markets. The steel traders and distributors are maintaining lean inventory to protect themselves from any impact of further recession.
The research report titled “Metals: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings.
