China’s Coal-Fired Future
October 8, 2023
It’s important to think about Chinese policy and ask ourselves why their actions don’t quite line up with their rhetoric.
Category: Updates
Reasons for the Metallurgical Coal Rally
October 5, 2023
Metallurgical coal markets continue to rally. Front-month (Oct ‘23) is at $362/mt, whereas long-term prices are currently in the $280’s:
Arch News Update
October 3, 2023
Arch released a Q3 update, revised guidance lower, and announced their Q3 earnings call, scheduled to take place October 26 at 10am.
Fog of M&A
September 28, 2023
Met names got a lift yesterday with an update of the B Riley price deck and flow through share price target upgrades.
Riff on Markets
September 27, 2023
I’m working on a long-form post on Chinese energy policy which is not quite ready for the printing press. I’m therefore going to riff a little on markets here.
Met Producer Forecasts
September 20, 2023
Now that I’ve wrapped up the forecasts for the US met producers, I figured I would share it here so that we can compare and contrast.
Met Producer Share Price Action
September 19, 2023
In terms of metallurgical coal equity share price action, it has been pretty exciting to say the least as they’ve rallied.
Met Market Update
September 19, 2023
Why is met rallying? Supply has become incrementally tighter and demand coming out of the summer doldrums is picking up again.
Use this Opportunity to Sell Alliance
September 14, 2023
Why is Alliance trading at a market premium to Australian thermal coal producers? It makes no sense in terms of long-term shareholder value.
Chinese Steel Macro Update
September 14, 2023
Herewith a quick rundown on Chinese Leading Indicators, PMI’s, and Steel Production. Plus metallurgical coal and iron ore implications.
Whitehaven’s BMA Acquisition
September 13, 2023
Time to address the elephant in the room. Whitehaven is most likely going to buy Blackwater and Daunia from BHP.
Downgrading Ramaco (METC)
September 12, 2023
Thinking through the poor relative performance of Ramaco vs the peer group, and I think the situation is going to get worse from here.