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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, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- The University of Queensland
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- PTC India Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
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