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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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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- White Energy Company Limited
- The University of Queensland
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
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