Rip Might Show In Coal Supply/Demand

Market News

Coal Investing News reports coal stocks in the US have been doing well. Shares in Indonesia’s biggest coal producer, PT Bumi Resources Tbk (BUMI.JK), jumped by as much as 8.4 per cent on Monday on news that China had placed orders to buy 8 million tonnes of coal from it in 2009. “Eight million tonnes …

Coal Investing News reports coal stocks in the US have been doing well.

Shares in Indonesia’s biggest coal producer, PT Bumi Resources Tbk (BUMI.JK), jumped by as much as 8.4 per cent on Monday on news that China had placed orders to buy 8 million tonnes of coal from it in 2009. “Eight million tonnes is quite big. It is one of the factors supporting the gain,” said Muhammad Al Fatih, an analyst at BNI Securities in Jakarta. Bumi had reported sales reached 53 million tonnes in 2008.

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