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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to grow by about 30% over the next 12 to 18 months as the economy recovers from the pandemic-induced slowdown
The outlook for the global metals and mining industry has been changed to positive from stable, Moody's Investors Service says in a report published today. The industry´s EBITDA is expected to grow by about 30% over the next 12 to 18 months as the world economy recovers from the pandemic-induced slowdown and demand for steel, iron ore and copper increases while supplies remain tight.
"The positive outlook for the global metals and mining industry stems mainly from rising demand and tight supplies for steel, iron ore and copper as economic activity picks up in the wake of the pandemic," said Barbara Mattos, a Moody's Senior Vice President. "Aluminum, nickel and zinc will remain in surplus in 2021, with aluminum seeing a slow recovery, while nickel and zinc supplies will grow as production levels normalize."
Aluminum, a key metal for the aerospace and automotive industries, will remain in surplus as the aerospace sector slowly recovers from the downturn and semiconductor shortages stymie auto production, Mattos says.
Copper prices will benefit from low inventories and vulnerability to supply disruptions, while demand for stainless steel and batteries will buttress nickel prices. For the medium term, the transition into greener economies, electric vehicles and renewable energy all point to positive market fundamentals for copper.
Meanwhile, steelmakers' operating results and cash flow will improve significantly in the year ahead on the back of historically high prices. Producers in Europe, China and elsewhere are facing rising production costs as they invest in cleaner technologies, while steel prices will gradually soften as supply and demand rebalance. Similarly, in the US and other countries that depend on electric arc furnaces, costs for scrap and other metallics are rising.
Although currently high prices for iron ore aren't sustainable, market fundamentals remain strong for 2021 due to supply constraints and a lack of major expansion projects in the coming years, Moody's says. High prices will support strong cash flow for the major producers, some of which will post all-time high cash flow and EBITDA.
Coal producers' cash flow and earnings likewise will improve significantly this year, though prices will ease off and the post-COVID bump in demand will subside later in 2021. Demand for thermal coal and met coal, which are used in steel production, will pick up. Low near-term interest rates and the uncertain pace of economic recovery will bolster demand for gold and silver, while prices for rough diamonds will rise amid restocking by cutters and polishers and robust demand from retailers.
Industry outlooks reflect our view of fundamental business conditions for an industry over the next 12-18 months. Since outlooks represent our forward-looking view on business conditions that factor into our ratings, a negative (positive) outlook suggests that negative (positive) rating actions are more likely on average. However, the industry outlook does not represent a sum of upgrades, downgrades or ratings under review, or an average of the rating outlooks of issuers in the industry, but rather our assessment of the main direction of business fundamentals within the overall industry.
source: Moody's
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Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
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