Coal price might surge 12% this year
Updated: 2011-01-19 14:03
By Hao Yan (chinadaily.com.cn)
The coal price may continue to rise, and it might surge more than 12 percent this year, 21st Century Business Herald reported.
UBS Securities Co Ltd Tuesday released its forecast on China's coal industry for this year, saying coal imports are set to slow down, because it is cheaper to buy coal domestically.
The flood in Australia's Queensland struck the international coking coal supply, as Queensland exports about 30 percent of the total coking coal on the market, Bai said.
Zheng Lei, associate director at CMB International Capital Corp Ltd, said various factors contribute to the fluctuations of the coal price on the domestic market, so it is hard to judge the accuracy of the estimate of a 12 percent price rise. He also said the price is controlled by future changes in policy.
"The coal price should climb for sure, in the long run. But in the short-term, in case the government places price cap in a quarter or two, then enterprises will have to do so," Zheng said.
President Hu Jintao is on a state visit to the US from Jan 18 to 21.
The discovery of the fossile of a female pterosaur nicknamed as Mrs T and her un-laid egg are shedding new light on ancient mysteries.
China's GDP growth jumped 10.3 percent year-on-year in 2010, boosted by a faster-than-expected 9.8 percent expansion in the fourth quarter.