more coal price hikes expected..

The chart is nothing short of fantastic..but are we only half way up the chart given coal prices etc?

Thermal coal spot prices continue to creep higher, hitting new life-of-contract highs. Fob Newcastle (Australia) spot quotes hit $83.51/t on GlobalCoal on Friday, up 1.7% for the week, while fob Richards Bay prices rose by 1.7% to $84.01/t. In India, it is reported that coal stocks are less than seven days at more than one-third of generators, and the government has warned Coal India that it has seven days to improve production before state-owned generators are permitted to turn to the import market – good luck!