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my Arty shelling wont rest until 1.90...hee :P
SONG or not ??! bombard until that burger begging for mercy! :D
nickyng ( Date: 08-Feb-2010 14:29) Posted:
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haha $1.99 area targetted !! take cover...more shelling to come !! :P
Dont Say i Did not fore-warned u hor !! :D
sengsk ( Date: 08-Feb-2010 13:33) Posted:
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Is that time to short ? (( If index point down ))
Head and Shoulder formation form.
well...got a taste of my SHORTISTS brigade's FIRE power at $2.00 ?!??! :P hee...
pending my cannon balls resource availabilty(need to bomb burgers as well leh! eg.Hyflux ?) in p.m session...this burger will be further bombarded !! :P
cheers !
Rebound coming :)
$2.03 supporting.....BUT no for long....take cover! Arty battery firing !! :P
pls be fore warned !! hee :D
Straits Asia Resources bags 5-year coal supply contract from Adani Group
Mainboard-listed Straits Asia Resources says it has signed a five-year contract to
supply coal from its Jembayan mine in East Kalimantan, Indonesia to the Adani Group.
The Jembayan Mine produces two types of coal: Prangat and JMB, both known for their
consistency in quality.
Under the terms of the contract which is effective from 1 April 2010, Straits Asia
will sell every 12 months, 1.5 million tonnes of JMB coal and 500,000 tonnes of Prangat
Coal.
The agreed FOB price for JMB and Prangat coal for each delivery will be based on the
public index floating price. Delivery will be evenly spread from April 1 2010 to Mar 31 2015.
Adani Group is one of the largest business houses in India with interests in trading,
infrastructure, mining, power generation, edible oil, logistics and agri logistics. It
is the largest coal trader in India and expects to trade in excess of 26 million tonnes
during 2010.
Source: The Edge 02 Feb 2010
Like any other commodities, shortage(s) and demand raises prices. And companies in such businesses are able to sell/trade at higher prices.
In the context of coal, a shortage is evidently seen due to the following factors:
1. Cold snaps is several countries are sapping supplies and preventing mining, esp. what China is experiencing.
2. Strikes in coal firms may have also led to lower coal output(s), will also raise prices in-line with the demands - as experienced in by Xstrata (Australian Coal Company) over the weekend.
3. Increased industrial production - as seen/heard recently - is leading to increased use of electricity and heating which will also send prices higher - if not soaring.
Prices of coal have gone up since the last price of 87+ - currently looking at 100 a tonne - and from the looks of it, it's heading further north in Q1 2010.
One other company that's reported to benefit from the demand is Noble Grp, as reported by UBS.
Despite the recent weakness in SAR and Noble, it's buyup volume has also been rather high - consolidation I'd say.
Hence, in my opinion coal-related companies are looking up - esp. when their fundamentals are still very much intact.
In summary, can hold / accumulate SAR - if not Noble.
stockseeker ( Date: 17-Jan-2010 11:16) Posted:
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Reversal may be in the cards. If you can't decide, stay sidelined. Here's why:
http://news.alibaba.com/article/detail/metalworking/100233110-1-prices-coal-other-bulk-commodities.html
Prices of coal and other bulk commodities surged significantly
Published: 14 Jan 2010 22:56:34 PST
January 15 MetalBiz--It is reported that steam coal price firstly broke U.S.$100 per ton for more than one year. The heavy snow in the northern areas of China affected the works of mining and railway transportation, the cold weather accelerated China to turn from exporter to import and caused spot price surge straightly.
It is noted that Shanxi shut down many illegal and unsafe small coal mines and China began to import dramatically to make up for the gap. Except Australia, Indonesia and Vietnam, China started to import coal from distant areas and firstly bought coal from Colombia in January this year. Analysts believed that China's net import of steam coal was 50mln tons in 2009, greatly changed compared with 70-80mln tons of net export in 2005. At the same time, as India gradually expanded the power generation, the import demand of steam coal will maintain strong this year, therefore, the price will hike further. This week, affected by the increasing demand and the tight supply, the spot price of steam coal climbed to U.S.$105 per ton in Australian market, recorded high since November of 2008.
With the surge of the steam coal price, the bulk commodities such as iron ore and coking coal will climb significantly.
price starts to fall when it hit 2.74 last week. Look likely it will go below 2.48 on Mon
These days, dividends don't make prices soar. It's the demand.
And with freezing tempuratures and full stimulus spending on infrastrature in China. Things are just beginning to heat up for coal-related commodity counter.
For those who are vested in SAR, here's a piece of re-assuring news:
Coal Price Forecast Raised at ANZ on Stronger Chinese Demand
By Ben Sharples
Jan. 12 (Bloomberg) -- Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from China because of government stimulus measures and cold weather.
Australia’s fourth-biggest bank increased its contract coal price forecast for the year beginning April 1 to $95 a metric ton from $80, Melbourne-based head of commodity research, Mark Pervan, said in an e-mailed note today.
Freezing temperatures and snowfall have forced Beijing, Shanghai, and other regions in China to limit electricity use to guarantee power needed for heating. The country posted a record level of coal-fueled power generation in November because of energy-intensive government stimulus measures and the onset of the coldest winter in 60 years, Pervan said.
“The bulk of China’s coal mines are situated in the north where the heaviest snow storms have hit, considerably slowing a domestic coal supply response,” Pervan said. “Coal port stocks have slumped 18 percent in the past three weeks and domestic power stations are running at very low levels.”
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, climbed 13 percent to $95.61 a ton in the week ended Jan. 8, according to the globalCOAL NEWC Index. A cargo shipped out of the harbor reached $100 a ton, UBS AG said in a note last week.
Spot prices above $100 a ton suggest Xstrata Plc’s contract price settlement of $83 to $85 a ton with Tokyo Electric Power Co. for the year starting Jan. 1, may be a “conservative” guide for the contract price for the year beginning April 1, Pervan said.
bennykusman ( Date: 08-Jan-2010 10:20) Posted:
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As for now dropped 12cents already. Can buy?
Oil price is up, will this help SAR to roar?