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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to grow by about 30% over the next 12 to 18 months as the economy recovers from the pandemic-induced slowdown
The outlook for the global metals and mining industry has been changed to positive from stable, Moody's Investors Service says in a report published today. The industry´s EBITDA is expected to grow by about 30% over the next 12 to 18 months as the world economy recovers from the pandemic-induced slowdown and demand for steel, iron ore and copper increases while supplies remain tight.
"The positive outlook for the global metals and mining industry stems mainly from rising demand and tight supplies for steel, iron ore and copper as economic activity picks up in the wake of the pandemic," said Barbara Mattos, a Moody's Senior Vice President. "Aluminum, nickel and zinc will remain in surplus in 2021, with aluminum seeing a slow recovery, while nickel and zinc supplies will grow as production levels normalize."
Aluminum, a key metal for the aerospace and automotive industries, will remain in surplus as the aerospace sector slowly recovers from the downturn and semiconductor shortages stymie auto production, Mattos says.
Copper prices will benefit from low inventories and vulnerability to supply disruptions, while demand for stainless steel and batteries will buttress nickel prices. For the medium term, the transition into greener economies, electric vehicles and renewable energy all point to positive market fundamentals for copper.
Meanwhile, steelmakers' operating results and cash flow will improve significantly in the year ahead on the back of historically high prices. Producers in Europe, China and elsewhere are facing rising production costs as they invest in cleaner technologies, while steel prices will gradually soften as supply and demand rebalance. Similarly, in the US and other countries that depend on electric arc furnaces, costs for scrap and other metallics are rising.
Although currently high prices for iron ore aren't sustainable, market fundamentals remain strong for 2021 due to supply constraints and a lack of major expansion projects in the coming years, Moody's says. High prices will support strong cash flow for the major producers, some of which will post all-time high cash flow and EBITDA.
Coal producers' cash flow and earnings likewise will improve significantly this year, though prices will ease off and the post-COVID bump in demand will subside later in 2021. Demand for thermal coal and met coal, which are used in steel production, will pick up. Low near-term interest rates and the uncertain pace of economic recovery will bolster demand for gold and silver, while prices for rough diamonds will rise amid restocking by cutters and polishers and robust demand from retailers.
Industry outlooks reflect our view of fundamental business conditions for an industry over the next 12-18 months. Since outlooks represent our forward-looking view on business conditions that factor into our ratings, a negative (positive) outlook suggests that negative (positive) rating actions are more likely on average. However, the industry outlook does not represent a sum of upgrades, downgrades or ratings under review, or an average of the rating outlooks of issuers in the industry, but rather our assessment of the main direction of business fundamentals within the overall industry.
source: Moody's
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- PTC India Limited - India
- CNBM International Corporation - China
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