We are coming into winter in china so this will get very interesting. In Northern China they have a state run central heating system powered by coal that they normally turn on in November. I assume last year they had a stockpile of thermal and thought the government could absorb the cost so it would not be noticed by regular people. Surely that stock pile is gone now. This year is the government going to be able to absord 300, 500 dollars a tonne for thermal, that they have to burn round the clock? They cant turn the power off, the houses are designed around this system and arnt properly insulated. I think China trying to join the trade pact was a way to try and subtly broach a peace. Will be very interesting to see what happens. Surly if the embargo on Australian coal is dropped this has to be rocket fuel for the share price. No mater what the ESG crowd say the world is not ready to quit coal.
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We are coming into winter in china so this will get very...
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