In today’s briefing:
- Reliance’s Next Mega Industrial Hub: The Rise of Navi Mumbai
- Coal Is Back – The Real Inconvenient Truth
- Iron Ore: Disappointing Data Pushed Price Down to 105, Bounce To 120 On Further Stimulus From China
Reliance’s Next Mega Industrial Hub: The Rise of Navi Mumbai
- Reliance Industries (RIL IN) is developing a new integrated industrial area in Navi Mumbai, part of a global economic hub.
- This project, supported by a 43-year land lease and strategic partnerships, aims to attract global companies, fostering innovation and economic growth in the Fourth Industrial Revolution.
- Reliance’s initiative will significantly boost Navi Mumbai’s attractiveness as an investment destination, driving regional economic growth and employment opportunities.
Coal Is Back – The Real Inconvenient Truth
- Increased demand from power plants under construction outside G-7 countries
- There is constrained supply as with many other fossil fuels
- We look at a basket of coal stocks with good balance sheets and increasing production
Iron Ore: Disappointing Data Pushed Price Down to 105, Bounce To 120 On Further Stimulus From China
- Iron ore continued to operate in its band from 95-130 USD/ton over the last few years, with a recent drop from 120 USD/ton to 105 USD/ton on tepid China data.
- With incremental news on China’s stimulus in the property and infrastructure sectors, we remain confident that iron ore will return to 120 USD/ton in the short term.
- We also remain bullish on the 65-62 spread, which has expanded to the teens. Rio Tinto Ltd (RIO AU) and Vale (VALE US) are good plays on the spread.
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