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