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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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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- VISA Power Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Australian Coal Association
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
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