We are into the second half of the second month of 2009 and pressure on coal prices have not eased. While the long-term outlook in this sector remains strong, thanks to strong fundamentals, spot prices continue to be under pressure. The reasons are being cited as high utility coal inventories, lower demand for electricity and competition from natural gas.
Qinhuangdao coal price has maintained weekly dip since 2008 with stocks upward, but it can’t hinder the advance of coal shares. For full story, click here
Major power generation groups in China still fail to clinch power coal supply contracts with coal enterprises due to huge difference on coal price. For full story, click here
There’s no denying the worldwide recession has led to global cutbacks in the demand for most commodities, coal included. Coal producers like Peabody Energy have been forced to curtail production as demand slumps from both the steel industry and the energy sector.
Coal India may increase prices from next fiscal. For full story, click here
Supply and demand of coal is expected to be a bit more important in 2009, with the almost irrational movement along with crude oil turning out to be less of an influence.
Solar Explosives’ recent contract with Coal India will boost its growth. The scrip has outperformed the Sensex during the economic turmoil over the past one year. For full story, click here
According to a market analyst the performance of Yanzhou Coal Mining Co Ltd will slip in wake of continuous coal price fall. For full story, click here
Shares of Malaysian power firm Tenaga Nasional gained 2.54 percent in trading on Tuesday on hopes that a falling coal price may lead to more earnings upgrades for the company. For full story, click here
Qinhuangdao coal prices see a big dive for 3 weeks in a row, nearly down by CNY 100 per tonne on average each week. For full story, click here
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