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Record Coal Price Risk Gaining as Australia Prepares for Rain: Commodities
Oct. 11, 2011 10:12AM PST
Industrial MetalsBloomberg reported that heavy rains forecast for Australia may impact coal shipments and prices.
Bloomberg reported that heavy rains forecast for Australia may impact coal shipments and prices.
As quoted in the market news:
The prospect of disrupted supply from the world’s biggest exporter led Citigroup Inc. analyst Daniel Hynes to say coal may “spike” more than 20 percent to about $350 a metric ton, if the disruption is as severe as last summer. The previous La Nina, Australia’s most expensive natural disaster, shut mines and sent coal to a record $330 a ton in the June quarter.
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