“We are, however, waiting to see the response of the governments in Asia regarding any type of stimulus to spur growth.” Nick Carter, NRP President on the metallurgical coal markets right in their earnings release.
“Coal used to make steel is set to drop to the lowest price in two years” Bloomberg
First signs of coking coal, iron ore rebound emerge at Mining. If so, Teck Resources (TCK) would be a favorite (chart). China’s Scary Slowdown May Have Limits at Business Week, yet July data has been coming in weak.
Decreased demand hits China’s rare earth producers at China Times. Even the Chinese “hopes that the government can stimulate domestic demand to offset the weak demand for rare earth minerals from overseas markets.”
China Seen Delaying New Stimulus: “Hope Fades for More Spurs to Growth as Beijing Waits for Effects of Its Moves” WSJ
China’s literally ground-breaking copper inventories at FT Alphaville. Yet, “China’s copper consumption is expected to grow to 10 million mt by 2020, up 36% from 2011” at Platts. Supply will not meet this projected demand with $3 handle copper. The dynamics of the next decade will be fascinating.
Dr. Copper’s Head & Shoulders at Ritholtz.