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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, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
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