Under valued by another 60 cents!
I think there will be strong buying in last 20 minutes of trade and finish 2 cents on the close.
Cmon guys, have some fun.
Excerpts from The Australian yesterday............might explain recent rise in price
A dramatic rebound in Australian coal shipments to China following a two-year ban imposed by Beijing has fuelled a surge in thermal coal exports to Indo-Pacific countries relying on coal-fired power to keep the lights on and support heavy industry.reveal NSW coal exports to China in 2023 eclipsed pre-pandemic levels, with more than 36 million tonnes of thermal and metallurgical coal – worth about $5.7bn based on Free on Board value – shipped to the communist nation.
Demand for NSW and Queensland thermal coalfrom Japan, China, Taiwan, South Korea, Thailand, Malaysia and Cambodia remains strong as developing nations and major economies import Australian coal and LNG.
NSW coal export volumes hit more than 152 million tonnes last year, an increase of 6 per cent, and would have been higher if shipments to Japan and South Korea were not restricted by weather-related impacts on the Hunter rail coal chain and Port of Newcastle.
Lower NSW coal exports to Japan and South Korea were offset byincreased coal exports to other markets in Southeast Asiawhere coal-fired power plants continue to be deployed. NSW coal exports to Taiwan increased to almost 21 million tonnes, with four million to tonnes shipped to Vietnam.
NSW Minerals Council chief executive Stephen Galilee said “coal is NSW’s most valuable export, and as coal export volumes recovered last year, so did the industry’s contribution to the NSW economy”.
“Over the same period, the NSW coal sector increased its spending in NSW, and also delivered record royalty payments to the NSW government,” Mr Galilee said.
Queensland Resources Council chief executive Janette Hewson said “coal makes an enormous contribution to Queensland’s economic prosperity and global demand for our high quality coal will remain strong for decades to come”.
Ahead of the October state election, Ms Hewson said Steven Miles’ government must work with the “state’s biggest export industry so that our existing operations are competitive and to attract investment in new projects”.
(20min delay)