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Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
 Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from returning demand while the supply response remains slow and inventories are running low.
Our revision of all iron ore price assumptions is the most significant change and is driven by tight market supply, which we expect to continue in the next couple of years, and the absence of material new projects over a long period that could offset depleting mines. Vale has cut its production guidance for 2021, resulting in no supply response to growing demand, with all large-scale iron ore producers operating at almost full capacity. Inventories are running low, while we expect additional demand linked to US and European economic stimulus packages.
We have increased the short-term copper price assumption due to strategic purchases by the China State Reserve Bureau and supply risks in 2021, including renewals of labour contracts in Chile and Peru, which may result in strikes. Medium-term prices will be supported by balanced market and energy transition trends as copper is used in charging infrastructure, cabling, electric vehicles, wind generators and transformers.
We have increased our zinc price assumptions for 2021 and 2022 due to growing demand in China. Zinc production is price-sensitive and mine supply of concentrates will catch up relatively quickly.
We have raised our aluminium price assumptions for 2021 on a stronger demand recovery in China, particularly from the automotive and solar energy sectors, and re-stocking outside of China, particularly in Europe. However, we expect a production surplus outside of China to persist, causing prices to soften once pent-up demand is satisfied. Prices will recover longer-term due to incremental demand growth.
We have raised gold price assumptions for 2021 and 2022 on increased demand due to investment flows and central bank purchases. We believe that prices will moderate in the medium term to an equilibrium of USD1,200/oz.
The rise in the 2021 coking coal price assumption is due to robust demand from the steel sector, supported by recovering steel production in India, Japan, South Korea and Europe, and rebalanced flows of seaborne coal despite ongoing restrictions on Australian coal imports to China.
We expect coal demand to grow in the medium and long term, but final decisions on new projects were delayed in 2020. This means that capacity expansions that were due to take place in 2021-2023 will be delayed until 2024 or 2025. Supply will therefore remain tight, supporting medium- and long-term price assumptions.
The upward revision of the 2021 Qinhuangdao 5,500 kcal/kg coal price assumption reflects strong prices at the start of 2021, which we expect to reduce as demand normalises in the rest of the year. We expect the price to align with our medium-term price assumption in 2022 due to growing renewables and increased approvals for greenfield mines. We have lowered the long-term price reflecting China’s ambition to achieve carbon-neutrality by 2060, meaning that carbon emissions, including those from coal consumption, will peak by 2030.
The revision in the 2021 Newcastle 6,000 kcal/kg coal price reflects higher year-to-date prices. However, these will prompt operations at costlier mines to resume leading prices to moderate in line with our medium-term assumptions. The long-term price adjustment reflects a gradually normalising price gap with the Chinese benchmark.
We have raised nickel price assumptions for 2021 due to strong spot prices and our expectation of increasing demand in 2021 for stainless steel; a key consumer of nickel. We have increased our long-term assumption as we expect the increased use of nickel in batteries to lead to a market deficit from 2025.
Source: Fitch Ratings
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- ASAPP Information Group - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
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