China still the key to market future

摘要

Thermal coal prices from all major suppliers are above US$50.00/t for bituminous qualities and coking coal producers are continuing to reap the benefits of the unprecedented demand for steel. With oil prices pushing past the US$60 a barrel level in June, there is a growing feeling that the world will have to promptly address its strategy with respect to future energy sources as continued rapid growth from energy hungry countries such as China and India could quickly diminish existing reserves of fossil fuels. Britain is expected to push for energy policy to be included as a high priority on the agenda at the upcoming G8 summit in Scotland. Whilst the general consensus is that there will not be a rapid shift away from coal fired power stations in the short term, there will be moves to learn how to deal better with CO_2 emissions through trading of carbon credits and government subsidies for new technologies such as carbon sequestration.