Queensland Flooding Squeezes Coking Coal Past $300 Mark for Asian Steel Mills, an Industrial Info News Alert
Posted on: Wednesday, 12 March 2008, 06:00 CDT
Researched by Industrial Info Resources (Sugar Land, Texas) -- Merrill Lynch has told clients that flooding in the Bowen Basin of Queensland, Australia, has taken an estimated 15 million tons of coking coal out of the market as infrastructure limitations restrict producers' ability to make up the lost output. As a result, companies such as Xstrata PLC (PINKSHEETS:XSRAF) (Zug, Switzerland) and Rio Tinto's (PINKSHEETS:RTP) (London) Coal & Allied Industries Limited are declaring force majeure on coal deliveries.
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Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources
Source: MARKET WIRE
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