Analysts see coking coal prices touching USD 300 in Q2 - 06 Jan, 2011 After the worst floods in 50 years which has disrupted coking coal output from Australian miners in Queensland State, prices are to jump in coming times as steel makers would look for alternate sources till the supplies are restored.
Over last 2 days, several analysts have given their views on the situation. Prices may increase to between USD 270 per tonne and USD 300 per tonne, analysts from Macquarie Group Ltd, Morgan Stanley and Daiwa Capital Markets have said. Mr David Brennan, a Melbourne based analyst at Daiwa, wrote in a research note that flooding may cut as much as 10 million tonnes of coking coal from the market if disruptions to mining last six weeks and prices may jump to USD 300 FOB. Morgan Stanley said prices may surge to USD 292.5 per tonne FOB. Mr Colin Hamilton, a London based Macquarie analyst said "Australian FOB prices may climb to USD 270 per tonne for three month contracts starting April 1st 2011 as the floods threaten to take as much as 10 million tonnes of metallurgical coal out of the market." Mr Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said "Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis. A lot of operations have been impacted. It certainly looks pretty bad at this stage." BHP, Rio, Macarthur Coal Ltd and Anglo American Plc are among producers that have declared force majeure as record rainfall has spread floods forcing the evacuation of towns, closing mines and spoiling crops. Steel mills had agreed to pay USD 225 per tonne for hard coking coal under a three month accord starting January 1st 2011, ------------------------------------ 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/
