Another 3 months of production at current prices and they will have to shut down. If they dont shut down.
the market will force them to shut down permanently. By completely draining their resources.
the earlier they shut down the higher their chances of coming back in the future. This is true of all the smelters in europe that have no fixed electricity tied to hydro.
if its fixed and tied to fossil fuels. The counterpart is the one who will go bankrupt.
this is likely true even for india, although not as bad as it is for europe.
china is likely the least affected, as they produce most of their own coal, the government has also mandated price controls on coal. I think 120 usd per tonne. Although it seems to have gone higher than that.
120 usd per tonne is still a fantastic price for coal miners. 120 usd coal per tonne isnt cheap.
however compared to the astronomical 430 usd per tonne it is right now......
Ann: MEDIA RELEASE H1 2022 NPAT USD60 Million UP 231%, page-79
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