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