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.