$100 NEWC bottom by my accounts ... give or take...
Percentage realisations of other products from this point across different companies suggests that this is where Australian coalers will begin to go cash flow negative without cutbacks on capex/wages. International coalers will also start to have their margins squeezed below $100 NEWC.
Cycles probably follow broader econonmic cycles. So think 1973-1980-1987-2000-2008-2019-2026-2033-etc-etc
NHC slapping, page-33
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