<China: Research Report>C Suisse Expects Coal Prices to Rebound in 3Q; CHINA SHENHUA Still Industry Top Pick
Credit Suisse, in its report, said NDRC trimmed coal prices with a target below RMB570 per ton.
The research house believed such move will knock down prices in short run but prices will pick up in 3Q with demand peak.
Credit Suisse's preferences to raw material markets in order were: steel> coal> cement.
CHINA SHENHUA (01088.HK) remained the top pick of the research house with target price of $23.
Source: AAStocks Financial News