citi bullish on thermal coal

Citi also revised its bulk commodity price forecasts with the largest revision in coking coal. The bank expects coking coal to fall 0.9% to $231/ton in 2013 from $233/ton in 2012. The coking coal 2012 price forecast was revised down 9% from Citi's previous forecast while the 2013 figure was cut 6.9%.

Meanwhile iron ore prices are forecast to drop 7.4% to $138/ton in 2013 from $149/ton in 2012 and thermal coal prices are forecast to rise 14.3% to $136/ton in 2013 from $119/ton in 2012.

http://www.marketwatch.com/story/citi-bull-on-nickel-gold-palladium-silver-bear-2012-04-16-54710?dist=beforebell