Chinese spot coal prices hit an all-time high yesterday.
From the AP:
After Initial Slip, Coal Producers Gain As Analyst Says Chinese Growth Won't Be Stopped in '08
After initially falling with the broader market, shares of most coal producers recovered Thursday as an analyst assured that a possible recession in the U.S. won't slowdown China's growth rate -- or its feverish appetite for coal.
Calyon Securities analyst Gordon Howald called investors concerns "misguided," suggesting that an economic slowdown or recession in the U.S. and Europe in 2008 won't have a severe impact on the Chinese economy and quell "bullish" international demand....MORE