Was looking at the chart of a new coking coal developer CKA (ASX) which has 260 m.t. in Indonesia, and in its starting production phase. The chart is very similar, and adjusting for shares on issue, the price is about the same. Looks like market fears a big economic slump in China now will affect demand. China, though, mainly imports lower grade energy coal as it has its own coking coal resources. Initially it is expecting a big rise in domestic demand in Indonesia which is interesting. Is Indonesia entering steel production? Hmm...
BCB Price at posting:
3.0¢ Sentiment: None Disclosure: Held
