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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
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