My best guess is that the fall in the share price is related to the continuing fall in US natural gas prices.
While it isn’t entirely rational given that Newcastle coal isn’t competing directly with US Nymex Nat gas, gas prices have continued to fall and the winter in the US is now predicted to be warm (which will result in excess supply).
If that is the correlation then we should expect another red day tomorrow given what is happening with Nat gas futures in the US.
EDIT: I should add that there is also significant weakness in Europe Nat gas prices as well.
My best guess is that the fall in the share price is related to...
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Last
$7.65 |
Change
0.020(0.26%) |
Mkt cap ! $6.399B | |||
| Open | High | Low | Value | Volume |
| $7.69 | $7.71 | $7.64 | $24.66M | 3.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 22151 | $7.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.66 | 12306 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| WHC (ASX) Chart |