Coking Coal contract price could rise 33% on Australian floods MS, BAC, BHP, RIO
Steel makers in Asia may be forced to pay as much as 33% more for hard coking coal after the worst floods in 50 ys in Australia's Queensland state disrupted output from the World's biggest shipper. Prices may increase to between US$270 and 300 a metric ton, an analyst Morgan Stanley (NYSE:MS) said. Mills agreed to pay US$225 a ton for the three months starting January 1, Bank of America Merrill Lynch (NYSE:BAC) analysts said last month. Rain in the Australian state of Queensland has inundated an area the size of France and Germany, prompting BHP Billiton Ltd (NYSE:BHP) and Rio Tinto Group (NYSE:RIO) to declare force majeure, a legal clause that allows mines to miss deliveries. About 37% of the World's traded coking coal is affected. Queensland floods in Y 2008 left steel producers, including Japan's Nippon Steel Corp. PK:NISTY) and JFE Holdings Inc.(GER:JFR), with a threefold increase in annual contract prices to about US$300 a ton. Australian free-on-board prices may climb to US$270 a ton for 3 month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market according to a source.—Paul A. Ebeling, Jnr. www.livetradingnews.com ------------------------------------ Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. SEMUA POSTING DI MILIS INI TANGGUNG JAWAB PENGIRIM EMAIL DAN BUKAN ADMIN MILIS. SEMUA POSTING DI MILIS INI BUKAN UNTUK MENGAJAK MEMBELI ATAU MENJUAL EFEK. SETIAP KEPUTUSAN INVESTASI MENJADI TANGGUNG JAWAB PIHAK PEMILIK INVESTASI ATAU PEMILIK MODAL. [email protected] untuk berhenti dari milis saham [email protected] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
