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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
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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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- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
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