SP has failed to breach the coal price for two reasons that I can see.
1 - Market has not seen a full year report from WHC to quantify how good this really is, market is simple like that sometimes, this will all change this Thursday and going forward we are likely to see further gains in SP. Once we have this full year report and coming half year report under our belts we will see a significant revaluation given the coal price remains stable at these prices, which IMO it will with 90% probability.
2 - Lack of horizontal coal price stability makes big money wary. Literal vertical ascent of coal price gives little peace to Mr market, he is scared, he wants longer term stability. This has started to show over the last 5 months, if it continues, SP will overshoot coal price as it did in the past.
SP has failed to breach the coal price for two reasons that I...
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