SYDNEY, Oct 15 (Reuters) - Australian spot thermal coal prices rose above $76 tonne on Monday to a record, lifted by a supply crunch as Asian buyers scramble for more coal before the northern winter. Thermal coal, used in power generation, jumped $4.52 from a week earlier to $76.16 per tonne, the globalCOAL NEWC index showed, based on free-on-board (FOB) prices loaded at Newcastle. "There just isn't any tonnage available in the market," said a source from a major Australian producer. "There is a rumour in the market that there are only one or two panamax shipments in the market... and that's driving up prices, the source said. http://uk.reuters.com/article/oilRpt/idUKSYD23783920071015
--- In obrolan-bandar@yahoogroups.com, "Aria Bela Nusa" <[EMAIL PROTECTED]> wrote: > > DJ MARKET TALK : Straits Asia, Bumi Resources Top Asia Coal Picks - CS > > 0120 GMT [Dow Jones] > > > > Credit Suisse keeps Asia Coal Sector at Overweight, raises target price > expectation for regional coal companies on stronger coal outlook. "Coal spot > prices continue to strengthen as we approach the traditional buying season > for thermal coal. Current Newcastle FOB spot of US$75.50/tonne gives us > further comfort on our 2008E regional coal contract price assumption of > US$70/tonne." Tips top picks as Bumi Resources (BUMI.JK), Straits Asia > (AJI.SG). Bumi Resources target raised to IDR5,100 from IDR3,400; Straits > Asia target raised to S$2.60 from S$1.40. Cuts Banpu (BANPU.TH) to Neutral > from Outperform, raises target to THB415 from THB316. Keeps PTBA (PTBA.JK) > at Neutral, raises target to IDR8,100 from IDR5,700. > > > > (LES) Contact us in Singapore. 65 64154 140; [EMAIL PROTECTED] (END) > Dow Jones Newswires October 16, 2007 21:20 ET (01:20 GMT) Copyright (c) 2007 > Dow Jones & Company, Inc.- - 09 20 PM EDT 10-16-07 >
