suspicious cxxt trade. volume, page-22

So Daveydaytrader25, if you know so much about futures then you'll know that the forward curves remain in contango. The November future for Newcastle benchmark coal is a touch under US$230/tonne ie., higher than spot. The Feb23 future price is US$215/tonne - that's extraordinary that it's still that high almost 12 months out. Apparently the reason the price recently spiked so high but came back was because many generators couldnt afford to buy it. SO it looks like we've found a level and it is interesting that when you normalise for the recent price spike then coal is still in an upward trend. No good news at all for those that are short coal no matter which way you look at it.