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The breathtaking adjustment in Chinese energy has continued with thermal coal thumped again yesterday:
We’re going back to $100 and below next year, in my view.
Coking coal finally caught a bid but how long that lasts is anybody’s guess. It is still massively oversupplied with big falls still in the offing:
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About the author
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.