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