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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Australian Coal Association
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
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