Yeah, I don't see a lot of uncommitted supply around or much additional supply coming online in the short term. WHC has had Japanese clients begging for multi-year contracts at whatever price.
I think on the surface it looks good to a casual observer - a big market that is apparently keen for our product - and I'm all for anything that gets the WHC SP going, but I just don't see the material effect for WHC that has its coal pretty much all stitched up. Happy to be put straight!
I do wonder if this change of heart from China has something to do with its emissions standards for its coal-fire units (so high any US unit would be illegal), which happened to come into effect in 2020, the same year they shunned our high quality coal. I believe we were around 50% of their thermal coal imports in 2019. But going off @didicoco it may be coking coal they are keen on, which was around a similar percentage in 2019.
Anyway, something something gift horse something something face.
Target $18.72, page-3286
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$8.55 |
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Mkt cap ! $7.157B | |||
| Open | High | Low | Value | Volume |
| $8.66 | $8.73 | $8.52 | $26.13M | 3.033M |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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