I was just reading about coal prices....
US coal producers feeling the pain due to falling coal prices..
Sounds like many are already making a loss, some are losing $15 per ton.
Apparently they rather keep producing at a loss than stop production.
They hoping coal prices improve and/or other producers go belly up before they do...
Net effect- market continues to get flooded which puts more pressure on supply... More supply lower prices...
They don't stop production because they probably won't be able to start mining again due to write downs on the B/ S and all the red tape to get started.....
This cycle is not new- the cheap producers will survive. Some will fall over and when the supply demand settles, coal prices will improve IMO....
weak Australian dollar is a blessing for AUS miners ATM- let's hope mnm is set when the next run happens..
Clean coal, dice, hydrogen are here long term IMO
Dyor
MNM Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
