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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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Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
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- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
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- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
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