One of the bulks that I did get right this year is coking coal and it’s tearaway boom is now reaching the crazy stage. From Macquarie:
Since our last met coal note (Met coal mania) published one month ago, spot hard coking coal prices have risen another 47% or $51/t. With a YTD price gain that now measures 105%, coking coal has outperformed every other commodity by some distance.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
