I would like to point out the current 1-year futures backwardation to spot prices.
It is currently at 4.9% with the coal price at $266. Over the last year or so it has averaged at 25-30%. It would be very unusual for it to remain there given current macroeconomic conditions.
Since we are at the end of month the coal price needs readjusting, it usually rallies near or above prior month figures. We are still in $300+ per ton until we actually hit the 1st of Feb.
This is generally in line with my previous post on the subject. Post #: 65544265
I would like to point out the current 1-year futures...
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