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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, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
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- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
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