Although NYMEX look-alike and Powder River Basin coal prices are roughly 40 percent below what they were a year ago, Merrill Lynch analysts say there is reason to suspect that the bull market is merely in hibernation and not gone for good."Many investors are assuming the current softness in market fundamentals will remain in place. … However, we continue to believe it is simply a matter of when, not if, electricity consumption and coal demand in the United States recover," according to a Feb. 28 analysis by Daniel Roling and David Gagliano of Merrill Lynch.
展开▼