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| 07-Jul-2007 09:04 |
Sakari
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Coal prices skyrocket
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Coal prices should keep climbing in China because of double-digit growth and as Beijing allows more market-oriented pricing, they say. The country became a net importer on a monthly basis this year -- a situation expected to persist in coming years. Australian spot thermal coal prices -- the Asian benchmark -- hit a record $72 per tonne last week after storms lashed the country's east coast and disrupted exports from Newcastle, the world's largest coal loading port. |
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| 16-Apr-2007 10:40 |
Sakari
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Coal prices skyrocket
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Coal prices skyrocketGILLETTE -- In year that Wyoming saw a 2.4 percent increase in coal production, it also saw a dramatic increase in prices. "It's just amazing what's going on in the industry right now. I don't think it's fully appreciated how much utilities are willing to pay for coal right now," said Paul Klibanow, a coal industry analyst for the New York investment firm Force Capital Management. At the beginning of 2005, producers in the 8,800 British thermal heating unit "compliance coal" sweet spot of the Powder River Basin were getting about $7 per ton under contract, which makes up about 85 percent of a company's production, compares with the $5-per-ton range in previous years. |
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