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<Research>CMBI: Closure of Strait of Hormuz May Boost Coal Prices; YANCOAL AUS Expected to Benefit
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The shutdown of the Strait of Hormuz and disruptions in Middle Eastern natural gas production have led to a 70% increase in natural gas price over the past week, CMBI released a research report saying. The shortage and surge in natural gas prices may shift the energy structure from natural gas to coal, as coal is less affected by disruptions. The broker believed that, given YANCOAL AUS (03668.HK)'s high exposure to thermal coal sales, which is at 84% in 2025, the Company will benefit in the short term. It is anticipated that every 1% increase in thermal coal price will boost its net profit by 5%. Therefore, CMBI kept its target price at $38 and rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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