China controls the coal market it merely made some mistakes earlier, this entire rally was due in large part to Chinese miscalculations or failures, whichever term you prefer.
Remember, China produces and consumes as much coal as the rest of the world combined and has done so for almost a decade. China is like the OPEC of coal.
China simply chose to stop prices at US$140, reported by Reuters due some backlash from domestic producers. And NEWC prices followed like a good boy.
However winter is looming and their is some uncertainty/opportunity for prices to bounce slightly.
Target $4.61, page-4161
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