Target $18.72, page-3290

I’m probably with @MrMediocreGuy here. I think there’s likely little impact to WHC in the immediate term as it sounds like it’s mostly coking coal, and WHC’s supply is stitched up regardless; the company is limited by its own production, not the number of buyers out there. More likely this is bullish for YAL given the coal they supply. But bigger-picture, China opening up to Australian coal suggests a return to a normalised and more efficient market which possibly means less volatility in prices.

As for the PA this afternoon across NHC, WHC and YAL, I’m curious to see in a few days if this was some short positions covering, as the news released prior to close was so vague it was not enough to warrant large positions.