OTCPK:NNDIF - Post by User
Comment by
ljp0101on Oct 13, 2021 6:25am
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Post# 33999901
RE:RE:RE:RE:RE:RE:RE:RE:RE:Some sizeable trades lately
RE:RE:RE:RE:RE:RE:RE:RE:RE:Some sizeable trades lately"The Fund does not have the right to terminate the SPA except in certain limited circumstances such as breach of contract etc."
Nothing can be done about the Glencore situation beyond shareholder or government litigation.
The annual benchmark is only partially relevant because NIF and Glencore never seem to be able to arrive at terms. This is why I believe spot TCRCs must rise for CEZ to have improved economics.
China power prices are fixed and the generators are eating higher coal prices where they're forced to buy on spot. They'll raise prices but nowhere near what's implied by the coal price. Real question is if smelters see meaningful power rationing and buy less concentrate as a result pushing the concentrate market into oversupply so it's sellers competing for buyers instead of buyers competing for sellers.