Metallurgical coal price down 67%For the few investor who follow the input cost of steel making...
On January 1st met coal price was $394, as this writting it is at $129
a drop of 67%.I know that Stelco produces some coal for it's own usage but what i don't know
is the quantity they have to buy to supplement their requirements.
I assume that they are a net buyer, if so this huge drop coupled with the drop of
iron prices and the drop in nat gas( from $4.40 to todays $2.30) should have a big impact
on Q2 and Q3 results
I continue to be very bullish on steel stocks especially Stelco.
Looking forward to mid August when stelco reports it Q2 results