Coal – Bloomberg reported that Bank of America Corp. (NYSE:BAC) lowered its forecast for Q4 2013 Newcastle thermal coal prices by 12 percent, to $74 per metric ton. It believes that in 2014 the fuel's price will average $82, down 9.9 percent from its previous estimate.
Articles Tagged "coal prices"
Coal – There's no time like the present to get involved in the coal sector.
Coal – Bloomberg reported that declining industrial demand and signs that the economy is slowing have pushed Qinhuangdao coal with an energy value of 5,500 kilocalories per kilogram down to a range of 560 to 575 yuan per metric ton, its lowest level in four years.
Coal – Teck Resources Ltd. (TSX:TCK.A,NYSE:TCK) released its unaudited results for the second quarter of 2013, noting that its adjusted profit came in at $197 million, down from $398 million in 2012. Don Lindsay, president and CEO of the company, commented that prices for Teck's products, particularly steelmaking coal, have continued to weaken; as a result, it is "slowing" the reopening of the Quintette coal mine.
Coal – The Wall Street Journal reported that coal's low cost will allow its use in most Asian countries to grow for years — or even decades — as governments ignore pollution concerns and order new coal-fired power stations.
Coal – Platts reported that Macquarie Bank has lowered its price forecast for hard coking coal by 13.4 percent for the second half of 2013, a move that suggests Q4 contract prices will stay steady at $145 per metric ton.
Coal – The Wall Street Journal's MarketWatch reported that a number of China's largest coal producers are now selling the fuel below $98 per ton, the lowest level in half a decade.
Coal – Reuters reported that API2 coal futures for 2014 delivery dropped below the "psychologically important" level of $85 per metric ton (MT) today, declining to $84.45 per MT. They are down about 17 percent since the start of 2013.
Coal – Forbes reported that low coal prices, China's proposed import ban on low-quality coal and the Indonesian government's hunt for more tax revenue from the fuel are presenting problems for Indonesian coal miners.
Coal – Bloomberg reported that the price of coal for 2014 delivery to Amsterdam-Rotterdam-Antwerp dropped to $88 per metric ton, its lowest price since the contract started trading in January 2010, after Credit Suisse Group AG (NYSE:CS) cut its forecast for the region's fuel and electricity costs.