Fwiw ; when the 0.5c mark was dumped into there was some 68 sells that were mopped up by 30 buys and one single transaction worth $254 dollars slipped over the line to tap on 0.4c. ( I know that spatchcock said he off loaded a load in there as he needed the cash back out, but his was 1 transaction; don't know volume of that one)
When the 0.4 side was dumped into... There was another single transaction worth about $300 that tapped on the 0.3c door
Always suspect about those little balls dropping over the line.
Pasboz, thankfully the price per tonne of thermal has increased a bit , currently up around the $83-84 per tonne out of Newcastle
In early December Peabody Energy , the world’s largest private sector coal company, gave a presentation about mid-term supply and demand for coal out to 2017. It projected that India’s coal demand would rise by 26.7%, and China’s would increase by 20.2%; some 80% of the total projected demand increase over the next four to five years will be coming from India and China. India and China are fast-growing economies that need more energy, so both will compete over the same coal
Morgan Stanley in a report on Thursday said it believes thermal coal prices have passed their cyclical low, but did not expect a strong recovery for at least another year.
RIO and BHP had delayed some of there proposed coal mine expansions / proposed new coal projects recently where has Xstrata is investing more into thermal coal, they expect coal exports will rise 12% by 2016
The cost of Thermal coal is and has being predicted to increase, this week we seen new export data shows China's demand for coal has increased significantly over the last financial year, defying predictions that exports will fall as China undertakes an energy switch driven by environmental concerns.
Last financial year NSW exports to China jumped by more than 30 per cent to 31 million tonnes. This one shows the massive increase in thermal demand - In 2007-08, only 1.1 per cent of NSW coal exports were going to China, while last year it accounted for 20 per cent!!! India's massive drive to increase baseload ( NLC alone are looking to triple it's baseload within the next 5 years!!!)
"The International Energy Agency's report into global demand for coal found that the main driver of the international coal market was China, although India is growing quickly and is likely to become a bigger importer of coal than China within the next five years."
This huge increase in demand is going to send costs north, no doubt especially due to the fact that India and China will be competing for the same coal.....what do you do if you are a country with significant reserves of lignite , baseload has a significant impact on economic growth..(we do know that economic growth in India has been stunted somewhat be it restricted baseload capacity) , and the price of thermal coal is increasing .....well it would make sense IMO to upgrade your own domestic lignite, produce it for half the cost of importing it..makes perfectly good economic sense IMO....still it probably won't have much of a positive effect on Thermal coal prices out of Australia as some demand will be meet by domestic production of BCE equivalent in lignite rich countries such as India which accounts for an already massive chunk of Australia coal export industry ...lol, the DPI probably wouldn't like that too much...
(20min delay)