Yes and last March 2021, Japanese locked in US$ 109 which was above the spot price at that time. This surprised some but for those that knew the actual situation at the coal face, this was not a surprise.
Current prices are not sustainable and for some reason not yet perceived, they will reduce sharply. The Japanese will set price well below current spot prices. The Black Swan event could be as simple as China exporting 50 million tonnes which is a drop in the bucket of their 4 billion tonne plus market.
Yes and last March 2021, Japanese locked in US$ 109 which was...
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