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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, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
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