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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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Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
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