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Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to global decarbonisation or short-term supply-demand imbalances.
We have raised short- and medium-term copper prices due to strong demand, supported by energy transition trends such as electric vehicle production and renewables roll-out. Copper inventories are at very low levels (less than three weeks’ worth of consumption with exchange stocks at 20-year lows). We expect the copper market to stay largely balanced over the medium term, supporting prices. While demand is increasing, mining companies face challenges in obtaining environmental permits for new projects and local communities’ resistance, reducing risks of oversupply.
We have cut our 2022 iron ore price assumption and increased it in 2023-2024. We expect the iron ore market to be more balanced in 2022 following a large deficit in 2021. Inventories have risen and are likely to remain higher than in the past two years, which will support price moderation in 2022. However, cost inflation – including shipping rates and environmental compliance – will limit downside risks in the coming years.
The updated coking coal price assumptions for 2022 reflect our expectation that prices will moderate from current levels due to lower demand from China, driven by the government-induced decline in steel production and winter season curbs. However, supply is likely to remain disrupted, while there are some pockets of growing demand, including India, which support our higher-than-previously expected short-term assumption.
We have increased all aluminium price assumptions due to strong market fundamentals. Power disruptions in China have led to production capacity curtailments that, together with delayed ramp-ups and restarts, have led to significant deficits in 2021 that we expect to continue in 2022 with a tight market balance thereafter. Weaker demand from some end-markets, including that linked to chip shortages, has been more than offset by production cuts. Demand for aluminium in the medium and long term will be supported by its application in electrification and energy transition.
Our increased short and medium-term zinc price assumptions are driven by global demand growth at nearly pre-pandemic rates, despite some deceleration in China. The global refined zinc market is likely to swing into shortages in 2022 and 2023, supporting prices. However, supply is price-elastic and highly fragmented, leading to increased production and curbing prices in the longer term.
Our increased gold price assumptions reflect increased demand due to its ‘safe haven’ investment status, although it has moderated since the height of the pandemic due to better prospects of economic recoveries. We assume the price to re-base at USD1,300/oz in the long term.
Our increased 2022 Qinhuangdao 5,500kcal/kg thermal coal price assumptions reflect our expectation that the market supply will remain tight after temporary production-incentivising measures are withdrawn in China. We still expect low single-digit growth in domestic consumption of thermal coal in 2022, despite the slowing of the economy, because new renewable capacity cannot cover all power demand. We expect prices to subsequently align with the earlier assumptions. We have similarly revised the Australia Newcastle 6,000 kcal/kg benchmark.
The increase in the 2022 nickel price assumptions is driven by residual effects of low stocks and higher prices in 2021, while we kept other medium- and long-term assumptions unchanged due to risks of increased supply from Indonesia, that could potentially lead to small market surpluses.
Our updated assumptions for 2021 largely reflect year-to-date average prices.
Source: Fitch Ratings
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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
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