We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
 Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from returning demand while the supply response remains slow and inventories are running low.
Our revision of all iron ore price assumptions is the most significant change and is driven by tight market supply, which we expect to continue in the next couple of years, and the absence of material new projects over a long period that could offset depleting mines. Vale has cut its production guidance for 2021, resulting in no supply response to growing demand, with all large-scale iron ore producers operating at almost full capacity. Inventories are running low, while we expect additional demand linked to US and European economic stimulus packages.
We have increased the short-term copper price assumption due to strategic purchases by the China State Reserve Bureau and supply risks in 2021, including renewals of labour contracts in Chile and Peru, which may result in strikes. Medium-term prices will be supported by balanced market and energy transition trends as copper is used in charging infrastructure, cabling, electric vehicles, wind generators and transformers.
We have increased our zinc price assumptions for 2021 and 2022 due to growing demand in China. Zinc production is price-sensitive and mine supply of concentrates will catch up relatively quickly.
We have raised our aluminium price assumptions for 2021 on a stronger demand recovery in China, particularly from the automotive and solar energy sectors, and re-stocking outside of China, particularly in Europe. However, we expect a production surplus outside of China to persist, causing prices to soften once pent-up demand is satisfied. Prices will recover longer-term due to incremental demand growth.
We have raised gold price assumptions for 2021 and 2022 on increased demand due to investment flows and central bank purchases. We believe that prices will moderate in the medium term to an equilibrium of USD1,200/oz.
The rise in the 2021 coking coal price assumption is due to robust demand from the steel sector, supported by recovering steel production in India, Japan, South Korea and Europe, and rebalanced flows of seaborne coal despite ongoing restrictions on Australian coal imports to China.
We expect coal demand to grow in the medium and long term, but final decisions on new projects were delayed in 2020. This means that capacity expansions that were due to take place in 2021-2023 will be delayed until 2024 or 2025. Supply will therefore remain tight, supporting medium- and long-term price assumptions.
The upward revision of the 2021 Qinhuangdao 5,500 kcal/kg coal price assumption reflects strong prices at the start of 2021, which we expect to reduce as demand normalises in the rest of the year. We expect the price to align with our medium-term price assumption in 2022 due to growing renewables and increased approvals for greenfield mines. We have lowered the long-term price reflecting China’s ambition to achieve carbon-neutrality by 2060, meaning that carbon emissions, including those from coal consumption, will peak by 2030.
The revision in the 2021 Newcastle 6,000 kcal/kg coal price reflects higher year-to-date prices. However, these will prompt operations at costlier mines to resume leading prices to moderate in line with our medium-term assumptions. The long-term price adjustment reflects a gradually normalising price gap with the Chinese benchmark.
We have raised nickel price assumptions for 2021 due to strong spot prices and our expectation of increasing demand in 2021 for stainless steel; a key consumer of nickel. We have increased our long-term assumption as we expect the increased use of nickel in batteries to lead to a market deficit from 2025.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
|
|
|
Showing 706 to 710 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
|
| |
| |
|
