Portway Capital Foresee Aluminium Gains as Coal Prices Spiral
Released on: August 14, 2008, 11:53 pm
Press Release Author: Michael Brown
Industry: Financial
Press Release Summary: Portway Capital are enjoying a prosperous year-to-date, particularly in the commodities sector, and it promises to get better as their decision to buy heavily into Aluminium looks to have payed off .
Press Release Body: Rumors have persisted for over eighteen months now that Portway Capital have been steadily amassing a strong position in the commodity, on the basis that the energy-intensive production of the metal will come to represent an intolerable cost burden as the global supply deficit for coal, the carbon-based fuel source used in the extraction of aluminium from its unrefined ore.
The global coal shortage is no secret today, and when message boards were previously rife with rumors linking Portway Capital to heavy buying of aluminium, 'statements' universally cited an inside report from 2007 stating the demand for coal worldwide will outstrip supply by 25 million to 35 million tonnes, with that number expected to grow steadily through 2010.
More recently, Portway Capital have received further good news in the form of an announcement from Chinese Authorities that the country\'s top 20 aluminum producers announced a collective agreement recently to curb aluminum production by 5%-10%. It is understood that the combined production cuts may total 400,000 tons this year. This, combined with several recent supply dispruptions, due mainly to sporadic weather and the China Earthquake, must surely give the shareholders of Portway Capital reason for optimism.
Web Site: http://www.portwaycapital.com
Contact Details: Michael Brown news@pr-newsnow.info