Coal Stocks Back to an Upswing as Prices Hit Record Levels amid Energy Shortages in China
Coal stocks are gaining today (October 1) as coal prices continue to rise to record levels amid energy shortages in China
Coal stocks are gaining today (October 1) as coal prices continue to rise to record levels amid energy shortages in China.
As of 11:12 local time in Thailand, the share price of the Lanna Resources Public Company Limited (LANNA) rose ฿2.25/share or 8.91% to ฿27.50/share, with a trading value of 389 million baht.
The share price of Asia Green Energy Public Company Limited (AGE) rose ฿0.16/share or 5.16% to ฿3.26/share, with a trading value of 155 million baht.
The share price of Banpu Public Company Limited (BANPU) rose ฿0.60/share or 4.84% to ฿13.00/share, with a trading value of 3,414 million baht.
GMO-Z com Securities (Thailand) stated that soaring supply shortages and a recovery in global demand have resulted in an extraordinary gain in coal prices, bringing it up as a recent standout commodity.
Meanwhile, AIRA Securities reported that coal prices are still on the rise. Newcastle coal has risen to US$218 (+3.56%), a new record high, as China struggles with a severe electricity shortage that has resulted in unprecedented power cuts in Northern China. AIRA believes this will benefit coal stocks such as BANPU.