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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
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