Perfect Storm for Thermal Coal Brewing
A shocking decision by an Indian court could spark a huge spike in thermal coal imports in the country. Macquarie Bank estimates this court decision may raise India’s coal import bill by around $3 billion to pay for an additional 38 million metric tons of coal. Consultancy Wood Mackenzie forecasts that India needs the equivalent of 88% of the seaborne coal surplus this year. The events in India are no doubt behind Glencore’s best thermal coal forecast in years. The company now believes that demand for thermal coal will begin to outpace supply in 2015. This will boost the fortunes of the coal suppliers.
http://www.wallstreetdaily.com/2014/09/11/india-thermal-coal/
Perfect Storm for Thermal Coal Brewing A shocking decision by an...
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