Monday, 17 Jan 2011
Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on tighter than expected fundamentals but uncertainties loom in China, Indonesia and Australia.
It said that the impressive run in coal markets resembles 2008 but is unlikely to breach its previous high, adding that it was bullish short erm, but highlight the risk of setbacks in 2Q as seasonal demand fades.
StanChart Research said it had on Nov 18, 2010 it had issued a report where it had forecast USD 116 per tonne for Newcastle coal, free on board basis, based on a global deficit of 4.8 million tonnes before the full impact of floods in Australia, in terms of supply disruption had been factored in.
Sourced:The Edge Daily
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