COKAL IS SITTING ON GEMS.
All unfolding events are in its favour.
Managements knows this and they want the most out of its high quality coal and they will get it and every card is in their favour.
Many analysts are expecting coal prices to shoot up past $300 per tone.
4th April 218
Met coal premium low-vol Platts spot prices averaged $228.47/mt FOB Australia in Q1, up from $204.67/mt FOB in Q4 and $188.78/mt FOB in Q3.
Benchmark coking coal prices derived by spot market index-based formulas were set at around $237/mt FOB in Q1, up from $192/mt in Q4 and around $170/mt FOB in Q3, according to industry sources.
The price rise follows some mining and other shipment disruption, with strong steel margins and China's large seaborne import demand increasing competition for resources with India and Japan limiting spot availability between the end of Q4 and most of Q1.
Miners in Australia, Canada and the US had been seeing good contract demand, with buyers in India, Europe and Brazil increasingly looking for alternatives to Australian prime benchmark coals.
CKA Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
