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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
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