to LDP. Why bother investing in anything else. 2014 if Patel sorts the licence this commodity still worth serious cash. Price up.
Singapore launching swaps as met coal price reaches 3-month high Frik Els | September 3, 2013
Singapore launching swaps as met coal price reaches 3-month high From Singapore screens to Shanghai barges While the iron ore market has been transformed over the past decade the trade in the other steelmaking ingredient, coking coal, still has some way to go.
The Singapore Exchange launched the first iron ore swaps as far back as April 2009 and is set to do the same for metallurgical coal early next year reports commodities information company Platts.
SGX is not first to market with the contract however. Chicago's CME Group already trades FOB Australia contracts, but the Asian contract may be on a CFR China basis.
Some are skeptical with one Platts source saying "no European buyers would hedge price exposure on a delivered China basis, so such a contract would alienate many purchasers," but one Singapore-based trader said people involved in seaborne spot trade into China would be the most likely to hedge.
Australia completely dominates seaborne spot coking coal volumes, representing 72% of the total and far outpacing second-placed Canada which enjoys 10% market share and the US which accounts for 5% of the trade.
Customs data from China, the globe's number two importer behind Japan, show the country imported 30.7 million tonnes of seaborne coking coal during the first half of 2013.
According to the most recent data, in July Chinese imports jumped 25% to 5.9 million tonnes.
Taking into account overland exports, Mongolia is the number two met coal supplier to China, the most active player in the spot market, but its share is falling rapidly. The landlocked Asian nation is responsible for 17% of China's total imports compared to Australia's 38%.
According to the Steel Index premium coking coal from Australia was trading at $147.40 a tonne on Tuesday, a three-month high and up more than 10% over the past month.
I dont see them investing in anything else. They wont need to. Theyll wait for this to clear and sell. Meantime they'll draw more shares in 2014 to keep it going and be a year from now anyway until anything sensible happens. The coal will go East in the end.
Let's get this straight. Jindobore, cut your throat by telling everyone, how you lost big in one of your portfolio investments. This was after, you regularly call other posters here "amateurs", and often post negative on this share. Amazingly, you then tell everyone that you recently invested here, while insinuating others to be foolish, thus confirming to us all you are a de-ramper. Jindobore, for crying out loud, give up! Your idol TFL, has just made himself out to be a laughing stock. I'll give you a hint, a film called " Dumb and ...........
this stock is on it's knees mate, I've bought Ecr, Xtr and Atc all when there were on the knees 0.1p . Ldp turn to turn around on any update really. that's y I say buy in before a spike because I see many people get stuck on spikes in my experience.
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