Given the current downward trend in the thermal coal price it is likely to be below $US90 withing the next couple of months. It is very fortunate that the AUD has also been performing badly. I'm just waiting for someone to declare that the upcoming northern summer in Europe and India will lead to increased prices after they have moved on from the expectation of higher prices during winter which never eventuated.
The supply of coal is very strong at the moment and miners being miners they will dig up and process as much as they can and hope someone else goes out of business to reduce supply. I remember some people going on a few years ago about how Indonesia didn't have the infrastructure to cope with more volume but they keep producing record after record.
WHC Price at posting:
$5.98 Sentiment: Sell Disclosure: Held
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