Goldman Sachs Group Inc. almost doubled its outlook for Asian coal prices as a global recovery in power demand and production issues in key mining countries combine to make supply scarce. Benchmark Newcastle thermal coal will average $190 a ton in the fourth quarter, up from a previous forecast of $100, to meet demand in the northern hemisphere winter and taking account of a global rally in natural gas, analysts Paul Young and Hugo Nicolaci said Tuesday in a research note. The bank lifted its 2022 forecast to $120 a ton from $85. Currently $412/t , at least they were in the right direction but how often do they get these forecasts right?
FFX Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held