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Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG


Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the “low season,” CLSA Research Ltd. said.

Coal-fired power stations may need an additional 35 million metric tons of the fuel to compensate for a 15 percent drop in capacity utilization at hydropower plants, Dave Dai, a Hong Kong-based analyst at CLSA, said in a report e-mailed today.

“This may support coal prices in low-season, offering upside on coal names and creating uncertainties for the China IPPs,” Dai said. The extra fuel needed means a 2 percent increase in coal use or a 1.1 percent gain in total demand this year, he said.

China’s imports rose 169 percent to 13.1 million tons in February, underpinned by electricity demand, according to customs data. The mainland paid about $92 a ton for coal in that month. Thermal coal prices to China on delivered terms climbed as high as $120 a ton in January from less than $90 a year earlier, Macquarie Group Ltd. said in a report this month.

Dai rated Yanzhou Coal Mining Co., China Shenhua Energy Co., SouthGobi Energy Resources Ltd. and Hidili Industry International Development Ltd. as “outperform.” To read more
Bloomberg ( Reported by Dinakar Sethuraman)



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Recent News

Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695  of coal in May 2010. May coal exports dropped by 20.61 percent co ...


Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...


Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...


Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...


Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...


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