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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- The University of Queensland
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Edison Trading Spa - Italy
- VISA Power Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
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