Long term pricing firm - but can infrastructure keep up with demand?

摘要

With almost all long-term contract prices agreed for this year, the market's attention has turned to the ability of existing infrastructure to deliver future quantities required With oil prices still pushing record levels and demand from China and India running strong most analysts are quietly optimistic that there will be no sudden fall in prices. Morgan Stanley recently raised its expectations for long term coking coal prices describing the outlook for coking coal producers as "very bright," adding that "Despite a step change in hard coking coal pricing, with recent settlements quoted at US$125/t and higher, the number of new mine developments announced has been relatively low."