The deal wont close for months. WHC havent even settled yet.
This is just WHC jawboning through the media to get some bids and get the prices up.
In the meantime Steel rebar prices are dropping, Iron ore is crashing and I would guess Met coal prices are about to follow. Thermal clearly is in a very tough spot for the medium term
We are a long way from home in my view.
WHC Price at posting:
$6.84 Sentiment: None Disclosure: Held
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