Much will be revealed in the next couple of weeks as to where the sp is headed short term.
IF the conspiracy theory re Aim seed accumulators is on the mark that 5.9/6 buyer will be back next week.
CCC will be coming into the zone for the reporting of the last Qtrs export numbers/revenue.
I was told there were definitely 4 trains that were delivered to Richards Bay and they were hoping another two would be delivered prior to the ned of the Qtr(March).However this was only a week or so from the end of March so it WOULD have been safer to assume ONE more train making around 125Kts in all for the Qtr.
BUT,
there were TWO track closures,one just south of Ermelo, which was only just repaired last week.Youve gotta love Transnet!Remember what I was saying about if its not one thing that will test a developing spec it will be another.
Cant be sure if this has affected these last potential deliveries.We will have to wait on the final Qtr figures.
The point being,as you guys have said,the likes of Macquarie wont want to see their CCC buyers dropping into the red by too much,hence their little spurt of buying as indicated by Downside.That was a pretty big commitment these clients would have made with the first tranche and showed some pretty ballsy investing given how much of a premium on the THEN sp they had to make.
In the last week or so the buyers have been pretty determined at a base of 5.9 PERHAPS supporting some of this thinking.
d.
CCC Price at posting:
59.0¢ Sentiment: Hold Disclosure: Held
