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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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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
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