Newcastle Port data from Australia ... what China slowdow?
Listen, once again the media is playing this big "China slowdown" ... did you know the new Chinese leadership has been targeting 7.5% ... so, is 7.7% really a "slowdown" at all? Remember the Chinese have been shutting outdated, unsafe, costly coal mines by the thousands ... at the same time, each month they are bringing additional power plants online ... the data says it all
Newcastle shipped 11.1 mt of coal in March (above the 10.25 forecast)
Newcastle April shipments are up 20% so far with 10 ships waiting to be loaded (39 more on the way)
Peabody ships coal from the Newcastle Port
Looks like you will get your opportunity today Javed to go in huge. Quadruple down! Future is bright! Of course, there are a lot of guys kicking themselves for not getting in at $19.17 from what I heard. No worries right? After tomorrow we will all be laughing right? Or people will be laughing at us for investing in BTU? We will see tomorrow. But if you have faith in BTU, it is your time to quadruple down.