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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
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