Hi all, I've started looking into CRN. Unfortunately my knowledge of resources isn't great, so I was hoping if anyone here could tell me how the lower iron ore price affects CRN (if at all)? My thinking initially was that metallurgical coal is used to make steel, so lower iron ore prices means steel costs less to produce so more steel can be produced (as long as the demand for that) which would positively affect demand for met coal. But then if there isn't as much demand for steel (e.g. China's growth slowing down), that drives down demand (and prices) for met coal which would negatively affect CRN.
Anyone have any views on this?
CRN Price at posting:
$3.13 Sentiment: None Disclosure: Not Held
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