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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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- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- PTC India Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
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