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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, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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Showing 261 to 265 news of total 6871 |
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- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Economic Council, Georgia
- Planning Commission, India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
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