Though the firm has revised down its medium-term nickel price forecast, longer term it anticipates “a strong price recovery if/when the market moves back to ‘risk on’ mode.”
At the 2014 Coal Association of Canada Conference and Trade Show, held in Vancouver from September 10 to 12, several analysts shared their views on the thermal and metallurgical coal markets. In particular, Wood Mackenzie analyst Joe Aldina gave an excellent overview of both markets and provided attendees with an
The Australian reported today that the outlook for coking coal prices seems to be picking up, with predictions for a price between US$130 and US$150 per tonne near term. Prices could reach up to US$170 in the longer term, according to the news outlet.
In an article for Reuters, Clyde Russel suggested that coking coal and thermal coal prices could be “poised to diverge.” The author saw thermal “mired in the doldrums,” while coking coal is posting some gains.
The Globe and Mail reported that Anglo American plc (LSE:AAL) will today announce plans to expand its coal mine in Northeastern BC in the hope that the quality of the fuel, along with the mine’s proximity to Asia, will help it win contracts from steelmakers.
Bloomberg reported that the largest producer of coking coal, Coal India, plans to increase coking coal prices for Steel Authority of India Ltd., which is the country’s second biggest producer.
Mineweb reported that news that BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) plans to cut coking coal prices for Japanese steelmakers by 24 percent from October to December has not been confirmed as BHP opted not to comment.