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Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
 Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
Short-term assumptions for copper, aluminium, nickel, zinc, iron ore and hard coking coal have been cut, reflecting lower current prices and increasing uncertainties over short-term demand. At the same time short- and medium-term assumptions for thermal coal have been raised reflecting increased demand due to the energy crisis in Europe.
Our reduced copper assumptions for 2022-2023 reflect a global economic slowdown and expectations of weaker demand in the short term compared with supply prospects, which we anticipate to lead to a small surplus in 2023, although the market is likely to remain tight. We expect small demand increases in China in 2022-2023 due to periodic lockdowns and a decline in the country’s construction sector, while consumption growth in other regions is only marginally higher than that in China. Nevertheless, medium-term prospects remain solid due to the energy transition accounting for 50% of growth in global copper demand anticipated over the next five years. Our medium- and long-term assumptions therefore remain unchanged.
We have cut the 2022 iron ore and coking coal price assumptions reflecting ytd pricing on lower steel demand, particularly in China, which leads to steel production curtailments and lower demand for steelmaking inputs, falling steel producers’ margins and build-up of iron ore inventories. At the same time, met coal supply has improved as Australian production recovered and Russian producers redirected some of their output from Europe to Asia. However, the market prices for met coal have bottomed out, while some hard coking coal producers started diverting sales to the thermal coal market, which benefits from high demand and pricing. However, our medium- and long-term views of the iron ore and met coal markets remain unchanged.
The lowered aluminium assumptions for 2022-2023 reflect changing market sentiments that lead to reduced prices in the short term, while market fundamentals and our longer-term assumptions are unchanged. Lower demand, particularly due to weaknesses of the Chinese construction market, will weigh on aluminium prices in the short term. However, rising energy prices could turn production in many markets loss-making, leading to curtailment and shoring up prices from further decline.
We have reduced zinc assumptions for 2022-2023 as inflationary and recessionary pressures and energy issues weigh on demand, while mine production remains flat, leading to market surpluses in the short term. However, price-elastic supply should support market rebalancing in the medium term.
All gold price assumptions remain unchanged, reflecting the metal’s ‘safe haven’ investment status amid high geopolitical instability and inflationary pressures. The market price has been moderating during most of 2022 in line with our expectations of interest-rate hikes, while the strong US dollar will continue pushing the price down. We expect gold prices to moderate in the longer term once geopolitical risks abate and as the interest-rate hiking cycle continues.
Our increased 2022-2025 assumptions for both thermal coal price benchmarks reflect strong demand, particularly from China, against the backdrop of higher energy prices, particular high European gas prices, leading to increased reliance on coal-powered energy generation. The increased price assumptions for 2024-2025 also incorporate higher coal mining costs and limited expected new capacity in the main producing countries. However, our long-term assumptions remain unchanged as consumption in China should gradually decline.
We have cut our nickel price assumption for 2022 reflecting subdued demand from the stainless steel sector, while production levels remain healthy, particularly in Russia and Indonesia. However, long-term demand from electric vehicle production should support longer-term prices.
Source: Fitch Ratings
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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