Far East Capital Newsletter
While markets drift the coking coal price is going ballistic
3 Sep 2016

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While markets drift the coking coal price is going ballistic

The markets are drifting around without much direction at the moment. The news from Jackson Hole was uneventful and lacking in vision, so the market is Iike a sailing ship on the ocean becalmed by lack of wind. One commodity is performing strongly though - coal.
It was not popular to buy mining stocks in January and early February, that was the best time to be buying - at the bottom. The most notable absentees from the party up until now has been coal stocks, but the rise in spot coking prices to US$140 pt is an overwhelming turnaround of the downtrend, so expect to see money flowing into this sector. 

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