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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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- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
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