The coal bubble is bursting like a fat, overcooked sausage. China triggered a rout yesterday with the news that the hoarders are to be beheaded:
China’s thermal coal futures slumped to their lowest in more than a month on Wednesday, marking a sixth consecutive day of declines, after the country’s state planner said it would conduct “clean up and rectification” work on coal storage sites.
…In its latest move, China’s state planner said it will conduct “clean up and rectification” work on coal storage sites in some coal-producing areas and ban storage sites without approvals in its latest move to address skyrocketing coal prices.
