It's never clear why share prices do what they do but here's an extract from "Trading Economics" that I read this morning:
Newcastle coal futures were near $160 per tonne in September, hovering close to three-month highs, lifted by increases in other energy benchmarks and signs of cutbacks in supply. LNG prices rose globally after Chevron was unable to reach agreements with unions and prevent strikes in Australian export facilities, raising the outlook for coal-induced power production. Additionally, the accumulation of steady support measures from the Chinese government could spur a slight rebound in economic activity and infrastructure construction in the country, pinning demand for energy. Additionally, bets of possible production curbs for steel and aluminum drove blast furnaces and smelters to undercut controls and turn up production in the short term, increasing demand for coking and thermal coal. Meanwhile, Chinese safety inspectors suspended activity in 13 coal mines in Shaanxi following a series of workplace accidents, pressuring supply.
I'm not sure how reliable this data is but it would contribute to the gradual rise of the SP over the recent period.
NHC Price at posting:
$6.38 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)