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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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Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
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