MCC is down atm for 2 reasons 1. Sentiment - even though MCC does not produce thermal coal but rather the higher quality and higher price PCI coal - they are caught in the downwards loop of Rio etc. This is DESPITE the fact that they are fantastically hedged at around 53c.
2. They ran out of H2O this year and it cost them some money to buy the stuff and keep their mill going. Profits down a bit this year BUT will recover next year
MCC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
