Ditto. Chinese futures are already above 200$.
Gas and coal inventories on the very low side (5/7y seasonal), going into winter...
it's end-Sep and we are already having industrials shutdown, which is the very last resort usually.
UK restarting some coal plant and I suspect it's not gonna be the only one.
At this stage, the value of the marginal GWH is the destroyed industrial production, this winter will be homes freezing.
Some outage is temporary (gas in US ex Hurricanes), and we can all have different opinions on future Russian gas flows, but I reckon if we don't have a very mild winter things can go ballistic.
And inventory depletion means high pricing might well last into spring.
Just my ramblings, I don't have a proper power/coal/gas stack S/D (would be cool if anyone has it and can share insights?)
Not investment advice, DYOR.
Ditto. Chinese futures are already above 200$.Gas and coal...
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