Commodities | Apr 18 2006
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While copper and gold have stolen the limelight, and the world awaits an iron ore price result, thermal coal prices had been anticipated to be settled before the beginning of this month, but no such luck.
UBS reports producers in Australia are offering $53-54/t but this has not enticed the utilities which are holding out for a supposed increase in supply in the second quarter. In the short term, utilities claim they can source coal at $45/t.
UBS analysts had been forecasting $46/t for (Japanese) FY06 but are now suggesting there may be upside to that forecast.
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