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Supply disruption fears stoke coal prices to record(The Hindu Business Line 5th Feb 2008)The outlook for coal is becoming increasingly dark with several recent events that have resulted in prices of thermal coal, coking coal and coke soaring. It is not demand, but the potential of supply disruption that has darkened the prospect.
The market has been heating up of late, with spot prices for coal and coke reaching record levels. Now, renewed threat to supplies is creating panic in major user industries such as steel. Currently, countries as far apart as Australia, South Africa and China are all affected by different sets of factors.Severe power shortage in South Africa has led to forced cuts in power supply to major industrial units such as coal, mining (gold and platinum), ferroalloy and metals industries, resulting in reduction of supplies.
In case of coal, only the export operations are affected though.
How soon the crisis would be resolved is hard to tell, according to industry representatives. More
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