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Metals is a cyclical industry and much of the current boom has been driven by Asian demand. Sooner or later the industry will experience a down cycle and then, once again, there will be renewed focus on traditional issues, such as cost management and “anti-dumping” concerns. Looking ahead, we expect consolidation to continue, especially in the fragmented steel sector. Securing energy supplies, guaranteed access to competitively priced raw materials, cost reductions strategies, and the health of end-market industries will continue to remain on CEOs’ agenda. At the same time the external regulatory environment is driven by the impact of Sarbanes-Oxley, IFRS adoption and European Union Emissions Trading Scheme to name a few.


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