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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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Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
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- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
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