Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways: BHP Cools on Coking Coal


Strengthen your portfolio in good times and bad.

BHP Slashes Coke Prices

BHP Billiton (BHP) said it has agreed to slash its annual coking coal prices by almost 60% after demand for the steelmaking material fell. The company said it has already settled a "significant portion" of supply contracts with "key global customers," according to Bloomberg.

In April, the world's largest mining company said that it expected coking coal production to be about 10 to 15 percent less than current capacity this year because of lower demand. Sales of the coal amounted to about 7% of BHP's total revenue for its fiscal year which ended in June.

From the Bull Pen: The hard asset plays like BHP continue to outperform. Those bullish can set a sell stop 2% below entry. And speaking of steel, see the daily chart of ArcerlorMittal (MT). There's support at $32 and $30. Those bullish can set a sell stop below those levels depending on your risk profile.

From the Bear Cave: Is the countertrend rally in the dollar over? Consider a play in the bearish dollar fund (UDN); a sell stop can be set below the recent low ($26.40).

Quick Check Around the World

Asian trading closed with the Hang Seng 4.03%, India 2.25%, Shanghai 1.02%, Nikkei 2.09%, and Taiwan 0.75%.

Glancing towards Europe, we see the FTSE 2.21%, CAC 2.01%, DAX 2.46%

As of 8:00 AM EST, S&P Futures are trading +12 to 952.00, and Nasdaq futures are +11 to 1512.00.

A Look at Commodities

Over in commodities, crude oil is trading +1.21 to 71.22 while gold is +10.6 at 965.30 this morning. Silver is +0.330 to 15.47 and copper +0.20 to 236.75.

The dollar index is -0.1400 to 79.6850.

On the Radar


08:30 Trade Balance: -$28.7 bln
10:00 Crude Inventories
02:00 Treasury Budget
02:00 Fed's Beige Book
Click here for the full trading radar.

It's the hump! Good luck!
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos