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Coal continues to remain an issue: JPM Global COAL team has revsied
estimates across thermal and coking coal, with thermal coal prices expected at
$124/128/MT in CY11/12E and coking coal at $295/264/MT in CY11/12E v/s
$276/253/MT (Global Coal: Firm and Fiery published on 30-Jun-11). While
thermal coal demand supply issues are well known, coking coal has been
relatively more tight. The Australian supply chain remains impacted. BHPB
manaagement commented that it will take until the end of CY11 for their
production chain to get back fully to normal. New supplies from
Mozambique/Mongolioa/Russia face infrastructure issues. JPM Coal team
envisages 3 possible scenarios for coking coal -a) A base of strong prices till mid
decade after which new supply starts; b) A high case where new production
comes in but is insufficient to meet demand and coking coal prices remain around
$300/MT; c) A low case when the new production comes on at the same time as
steelmakers introduce alternative steel making technologies that reduce demand.
JPM Global Coal team would discuss these issues in the The JPMorgan
Global Coal Outlook on Wednesday, July 6 @ 8:00am ET / 13:00 UK DIAL-IN:
866-803-2143 (US); +1-210-795-1098 (Outside US); Passcode: MINING.
India- High Level meeting chaired by the PM on the coal situation scheduled
for July 6th: The much awaited meeting chaired by the Prime Minister on the coal
situation is now scheduled for July 6th. Among the key issues likely to be
discussed would be the GO/NO GO situation and potentially faster time
bound clearances for the new coal mining projects. Bloomberg carried
reports that India’s aluminum producer NALCO may have to cut output by
10% given the lower coal receipt from COAL INDIA.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Coal continues to remain an issue: JPM Global COAL team has revsied
estimates across thermal and coking coal, with thermal coal prices expected at
$124/128/MT in CY11/12E and coking coal at $295/264/MT in CY11/12E v/s
$276/253/MT (Global Coal: Firm and Fiery published on 30-Jun-11). While
thermal coal demand supply issues are well known, coking coal has been
relatively more tight. The Australian supply chain remains impacted. BHPB
manaagement commented that it will take until the end of CY11 for their
production chain to get back fully to normal. New supplies from
Mozambique/Mongolioa/Russia face infrastructure issues. JPM Coal team
envisages 3 possible scenarios for coking coal -a) A base of strong prices till mid
decade after which new supply starts; b) A high case where new production
comes in but is insufficient to meet demand and coking coal prices remain around
$300/MT; c) A low case when the new production comes on at the same time as
steelmakers introduce alternative steel making technologies that reduce demand.
JPM Global Coal team would discuss these issues in the The JPMorgan
Global Coal Outlook on Wednesday, July 6 @ 8:00am ET / 13:00 UK DIAL-IN:
866-803-2143 (US); +1-210-795-1098 (Outside US); Passcode: MINING.
India- High Level meeting chaired by the PM on the coal situation scheduled
for July 6th: The much awaited meeting chaired by the Prime Minister on the coal
situation is now scheduled for July 6th. Among the key issues likely to be
discussed would be the GO/NO GO situation and potentially faster time
bound clearances for the new coal mining projects. Bloomberg carried
reports that India’s aluminum producer NALCO may have to cut output by
10% given the lower coal receipt from COAL INDIA.
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