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