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