Dostal jsem prave dnes:
Coking coal markets have strengthened materially over recent months, and we are
upgrading our recommendation on NWR to reflect this change in market conditions.
This has been a key thematic underpinning our stance on
that the market is under-appreciating the potentially transformational impact on
NWR’s 2010 earnings that sustained recovery in coking coal markets could have.
The global steel recovery is starting to feed in to NWR’s main demand markets:
the aggregate of its main customer countries’ steel output has risen by 23% in
the last two months. We understand the company is receiving inquiries for
additional material in H2 and is evaluating increasing its coking coal
production by 0.5mt (+9%) to accommodate, as well as selling down inventories
built in Q1.