Coal price has sunk -14pc the past month and almost -50pc YTD.
The energy crisis narrative is over , the new narrative is recession or a slow grinding world economy.
Coal stocks are proxy buy of the Chinese economy because China consumes 50pc of the worlds coal, and the Chinese economy is losing lustre. Prices of coal stocks going forwards would be a reflection of outlook for coal in the years ahead, still around but suffers risk of dampening demand due to climate pressures.
