WHC -4.95%: Coal stocks were hit hard today right around the Asian region as news broke that Chinese authorities plan to limit the selling price of thermal coal to ease a power crunch that’s prompted electricity rationing. While Whitehaven Coal (WHC) sells no coal to China, prices in the region have been crunched as that’s put a lot of pressure on coal stocks generally, including WHC. This sort of volatility is clearly unnerving and while market noise will dictate short term ebbs and flows in prices, underlying supply and demand will ultimately prevail and prices will rebound.
MM remains long & bullish WHC
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