‘…..Outlook and FY25 Guidance
The forecast structural shortfall in global metallurgical coal production, particularly due to long-term production
constraints of HCC from Australian producers, combined with increased seaborne demand from India, is
anticipated to drive higher metallurgical coal prices over the near and long-term. Whitehaven’s metallurgical coal
portfolio will benefit from the supply constraints expected in both the near and longer-term.
While the relativities for PCI and SSCC to PLV HCC are below historical averages, LV PCI indices are currently
improving relative to PLV HCC and overall favourable absolute prices are being realised.
Demand for high CV thermal coal remains robust in Whitehaven’s mature and emerging markets in Asia to fuel
HELE (high-efficiency, low-emissions) power generation and for use in general industry. The structural supply
shortfall in seaborne high CV thermal coal continues to grow as a result of underinvestment in new supply and
depletion of existing supply, which is supportive of medium and long-term high CV thermal prices……
WHC Price at posting:
$7.20 Sentiment: Buy Disclosure: Held
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