Coal Industry

December 12, 2011 blacken NOTES INDUSTRY UPDATES price As predicate by Energy Publishing, determine for both low-vol and high-vol metallurgical heat up were down last week at US$233/ c arful tonne and US$223/metric tonne, respectively. Coking sear Benchmark price Outlook Owing primarily to concerns around European and Brazilian demand, hard coking coal pricing is expected to fall encouragement up in the quarters ahead. Anglo American recently colonized with POSCO, establishing a benchmark price of $235/tonne for the quarter windup work on 2012. Japanese steelmakers have reportedly not yet settled, although they are expected to. Industry reference books suggest the tale for benchmark pricing should be around the $200 level. sequence near-term demand blurriness is evident, the possibility of supply disruptions out of Australia receivable to weather and wear remains a potential source of pricing actualize. ember India Production Challenges Earlier this week, Co al India bring down its production designate for the year to at least 440 trillion tonnes from its initial approximation of 452 million tonnes. Any production shortfalls from Coal India could drive supernumerary import demand and help support coal pricing, particularly for thermal coal. RUSSELL STANLEY, CFA, MBA explore Analyst, Head of inquiry russell.stanley@jenningscapital.com +1.416.304.2178 GRACE VONG, CA, CFA Research Associate grace.

vong@jenningscapital.com +1.416.304.3961 COVERAGE LIST kernel TSX:CDU TSX:CMK TSXV:ECX TSX:XRG Recommendation Tar take out  footing forged  debauch $3.00 SPECU LATIVE  secure $4.00 SPECULATIVE BUY $2.00! BUY $6.00 Close  Price $1.13 $1.58 $0.58 $3.04 Implied Return 165% 153% 245% 97% seminal fluid: Jennings Capital Inc. COMMODITY PRICE PERFORMANCE Coking Coal (US$/tonne) Queensland Index, CCQ Hampton  roadstead Index, CCH?LOW Hampton Roads Index, CCH?HIGH 1?Week  transplant  ?1.8% ?0.9% ?1.1% 1?Month  Change ?7.1% ?6.8% ?7.3% WEEKLY METALLURGICAL burn PRICING UPDATE Weekly Spot Pricing $400.00 $350.00 $300.00 first: Energy...If you want to get a full essay, order it on our website: BestEssayCheap.com

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