Monday, March 15, 2010

Coal stocks lost steam

Coal-related stocks lost steam this morning on weakened thermal coal prices. Shenhua and China Coal dropped 4.2% and 3.53% respectively in Hong Kong, while Bumi Resources and Adaro declined 1.98% and 0.53% on IDX this morning.
Bukit Asam, Indo Tambangraya, and Indika also declined, while BHP and Rio Tinto lost 0.42% and 0.3% respectively in Sidney. Delta Dunia Makmur (DOID) declined further by 1.42% to Rp1390. The stock has lost 36% from its peak last year. But trading volume was relatively small.

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