Wednesday, October 10, 2007

Hot coal

This story focuses on Australian prices but I've been wondering if it's time for Peabody (BTU) to go private?
From the Financial Times:

Coal is lighting investors’ fires. The benchmark Australian spot price for thermal coal has surged to around $70 per tonne from just $51 per tonne at the start of the year. In Europe the delivered price, including freight, has punched through $100 per tonne. Merger activity is buoyant, as are equity prices: shares in Shenhua Energy, China’s top producer, nearly doubled on Tuesday’s stock market debut....MORE