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Industry rebuilding in Q2

September 03, 2010 - 00:00 GMT

KEYWORDS: Imerys , Rio Tinto S&B Industrial Minerals , RHI , Cookson , Vesuvius , Foseco , Iluka , Kenmare , PotashCorp

The industrial minerals industry showed signs of recovery in Q2 as customers continued to rebuild inventories, but the short-term outlook remains cloudy


This recovery was reflected in the financial results of miners across the globe, which reported a rebound in profits from last year, albeit in many cases, falling short of levels seen before the recession.

With the economic outlook still uncertain and many customers at the end of restocking periods, few industry leaders are optimistic about a full-blown recovery.

With such a diverse portfolio, France’s Imerys SA, can be used as a good indicator for the industry as a whole. The Paris-based group reported an 88% increase in current operating income to €123.2m. ($158m.), while sales rose 28% to €871.4m.

Imerys’s ceramics, refractories, abrasives and foundry minerals division saw the biggest improvement, with sales rising 54% driven by recovering demand primarily in steel.

The group’s CEO Gérard Buffière remained cautious in his outlook however saying: “Inventory rebuilding in the value chain made a...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


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