Whitehaven Bear Sees Limited Upside to Met Coal Prices -- Market Talk

Dow Jones

01/30

0047 GMT - Whitehaven Coal's bears at UBS see limited upside to prices of metallurgical coal, used in steelmaking. UBS expects prices to average US$235/ton this year. They will be underpinned by weather-related disruptions in Australia, heightened supply concerns in China, and robust demand from India and China. It assumes prices peak at around US$250/ton, close to current spot levels. They should then gradually decline as weather-related disruptions subside. "With spot approximately at peak UBS estimates, we see limited upside price catalysts outside of additional market-tightening events," analyst Lachlan Shaw says. UBS retains a sell call on Whitehaven, citing an enterprise value-to-Ebitda multiple that is ahead of international competitors. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 29, 2026 19:47 ET (00:47 GMT)

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UBS expects prices to average US$235/ton this year. They will be underpinned by weather-related disruptions in Australia, heightened supply concerns in China, and robust demand from India and China. It assumes prices peak at around US$250/ton, close to current spot levels. They should then gradually decline as weather-related disruptions subside. \"With spot approximately at peak UBS estimates, we see limited upside price catalysts outside of additional market-tightening events,\" analyst Lachlan Shaw says. UBS retains a sell call on Whitehaven, citing an enterprise value-to-Ebitda multiple that is ahead of international competitors. 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UBS expects prices to average US$235/ton this year. They will be underpinned by weather-related disruptions in Australia, heightened supply concerns in China, and robust demand from India and China. It assumes prices peak at around US$250/ton, close to current spot levels. They should then gradually decline as weather-related disruptions subside. \"With spot approximately at peak UBS estimates, we see limited upside price catalysts outside of additional market-tightening events,\" analyst Lachlan Shaw says. UBS retains a sell call on Whitehaven, citing an enterprise value-to-Ebitda multiple that is ahead of international competitors. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 29, 2026 19:47 ET (00:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4534","symbol_name":"瑞士信貸持倉","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2607063658","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2607063658","pubTimestamp":1769734020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0047 GMT - Whitehaven Coal's bears at UBS see limited upside to prices of metallurgical coal, used in steelmaking. UBS expects prices to average US$235/ton this year. They will be underpinned by weather-related disruptions in Australia, heightened supply concerns in China, and robust demand from India and China. It assumes prices peak at around US$250/ton, close to current spot levels. They should then gradually decline as weather-related disruptions subside. \"With spot approximately at peak UBS estimates, we see limited upside price catalysts outside of additional market-tightening events,\" analyst Lachlan Shaw says. UBS retains a sell call on Whitehaven, citing an enterprise value-to-Ebitda multiple that is ahead of international competitors. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4534":"瑞士信贷持仓","BK7507":"资源股","UBS":"瑞银","LU3187612489.SGD":"TEMPLETON EUROPEAN INSIGHTS \"A\" (SGDHDG) ACC","LU1829250122.USD":"高盛欧洲核心股票组合Acc","LU1863844665.USD":"TEMPLETON EUROLAND \"A\" (USD) ACC A","WHC.AU":"WHITEHAVEN COAL LTD","BK7083":"煤与消费用燃料","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4118":"综合性资本市场","LU1863844749.USD":"TEMPLETON EUROLAND \"A\" (USD) INC","IE0034235071.USD":"PINEBRIDGE EUROPE RESEARCH ENHANCED EQUITY \"A\" (USD) ACC"},"translate_title":"怀特黑文空头认为煤炭价格上涨空间有限——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UBS":0.73,"WHC.AU":0.9},"content_text":"0047 GMT - Whitehaven Coal's bears at UBS see limited upside to prices of metallurgical coal, used in steelmaking. UBS expects prices to average US$235/ton this year. They will be underpinned by weather-related disruptions in Australia, heightened supply concerns in China, and robust demand from India and China. It assumes prices peak at around US$250/ton, close to current spot levels. They should then gradually decline as weather-related disruptions subside. \"With spot approximately at peak UBS estimates, we see limited upside price catalysts outside of additional market-tightening events,\" analyst Lachlan Shaw says. UBS retains a sell call on Whitehaven, citing an enterprise value-to-Ebitda multiple that is ahead of international competitors. 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