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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
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