European extrusion market steadies after strong 2018

摘要

The extrusions market is entering the customary seasonal slowdown as we approach yearend. Market participants report that despite the slowdown, the market is still performingrelatively well. However, the market mood has darkened somewhat after an impressive yearfor extrusion demand. Market participants’ outlook for growth is weaker next year than forthis year. The general market consensus is if 2019 is relatively stable with modest growth itwill be relatively good news. CRU forecasts slowing growth in the EU and EFTA region in2019 but the market will still expand by 1.9%. As in the rolled products sector the market isgetting more nervous for the automotive sector in 2019, with US tariffs still overhanging themarket, Brexit provides another agitation, while the outlook for the Italian economy hasdeteriorated with the budget dispute with the EU likely to worsen before it improves. Whilefiscal policy is expansionary in Italy, rising debt is likely to see interest rates rise. This comeson top of a general slowing in economic growth in the eurozone.