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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- Indika Energy - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
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