Deutsche Bank Raises Coal, Ore Forecasts on Floods

Bloomberg.com reports that Deutsche Bank is raising price forecasts for Coal and Iron as a result of floods in Australia.

The story is quoted as saying:

Hard coking coal for the 2011 calendar year will average $265 a ton, Deutsche Bank said, raising a previous estimate by 11 percent. Contract prices may reach $300 in the second quarter, Brebner said. Prices will drop to $260 next year

To access the full story, click here.