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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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Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
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- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
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