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