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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- The University of Queensland
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
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