coking coal to hit $350.00 a ton

Hi Guys

Been reading alot about coal prices of late due to the impact the rains are having on coal exports. Thought i would post on the CLR and WAL thread. Have a read

DJ MARKET TALK: Spot Coking Coal To Hit $350/Ton End-March -CBA
(Market Watch from Dow Jones) 06/01/2011


2329 GMT [Dow Jones] Spot prices of hard coking coal are to rise to about $350 per metric ton by the end of March as Australia's Queensland state continues to battle rising floodwaters following heavy rains, says Lachlan Shaw, commodities analyst at Commonwealth Bank of Australia. Rising spot prices will likely mean hard coking coal quarterly contracts for the April-June period will settle at almost $300/ton. "Further heavy rains, plus an increased likelihood of more tropical cyclones than usual in the November-April cyclone season, suggest to us that Queensland coal producers may face more disruption yet," Shaw adds. ([email protected])

http://www.djnewsplus.com/access/al?rnd=6QJqGptt5SGfUEcX9SEQTQ%3D%3D.
(END) Dow Jones Newswires

January 05, 2011 18:29 ET (23:29 GMT)

Copyright (c) 2011 Dow Jones & Company, Inc.


DJ MARKET TALK: Aussie Coking Coal Miners Hit By More Heavy Rains
(Market Watch from Dow Jones) 24/12/2010


0036 GMT [Dow Jones] Heavy rain that's already fallen in recent days in central Queensland and forecasts by the Bureau of Meteorology of further deluges in coming days likely will put production of coking and steaming coals in the region under further pressure.

Among miners to have declared force majeure on contracts to supply coal from the region this month are Wesfarmers (WES.AU), Macarthur Coal (MCC.AU) and Aquila Resources (AQA.AU), which has a half share in the Isaac Plains mine with Vale Australia (VALE). While production will certainly suffer as a result of the rainfall, the impact on company earnings isn't as clear: coal prices have risen in recent weeks mostly reflecting the tighter supply. In a modestly weaker overall market, WES is up 1 cent at A$32.41, MCC is down 7 cents at A$12.74 and AQA has fallen 5 cents at A$9.84.

The moisture problems facing miners aren't restricted to Queensland: Whitehaven Coal (WHC.AU) shares are down 4.1% at A$6.71 after saying 1H coal production will be about 24% under budget after wet weather in the Gunnedah Basin in northern New South Wales. ([email protected])

https://www.macquarie.com.au/edge/article/MARKET/e5ba12dfac51d210VgnVCM100000c502890aRCRD/

GB