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