RSI Review on Shares of Mongolian Mining Cor
Investors are tracking indicators on shares of Mongolian Mining Cor (MOGLF). The current 14-day RSI is 50, the 7-day is at 43.77, and the 3-day is resting at 31.3. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles [...]
Coking coal price crashes through $200
It’s only been a week of trading, but the year to date fall in the price of coking coal has already reached 17%. The steelmaking raw material is also now $120 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
Erdenet to Ovoot Railway determined feasible
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Ltd, has, through its rail subsidiary, Northern Railways LLC (NR), received the first stage feasibility study from China Railway First Survey and Design Institute Group Co. Ltd (FSDI) for the Erdenet to Ovoot Railway in Mongolia.
Coking coal price correction turns into rout
It’s only the 5th, but the year to date fall in the price of coking coal has already reached 8%. The steelmaking raw material is also a round $100 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
China to plow $360 billion into renewable fuel by 2020
China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, the country’s energy agency said on Thursday, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
China coal output, demand to rise even as excess under fire
China expects coal output and demand to increase by 2020 even as it aims to cut 800 million tonnes of outdated capacity as the world’s largest consumer of the fuel ramps up years-long efforts to tackle smog and make its manufacturing sector more efficient.
Mongolia Nov coal exports hit a record high
Coal-rich Mongolia exported 3.81 million tonnes of coal in November, soaring 77.97% from 2.14 million tonnes in October this year, hitting a record high, showed data from the Mineral Resources Authority of Mongolia.
Who is saving Mongolia’s collapsing economy? China imports Mongolia coal doubled
There is no doubt that China is the Saviour of the collapse of Mongolia.
Massive Mongolia coal deposits could revive its flagging economy
Former frontier market darling Mongolia has had a tough time in a world of low commodity prices, with its government struggling to make ends meet, but a spike in global coal prices could see the country stage a comeback.
China bans North Korean coal- but only till January
Fresh UN sanctions against North Korea aimed at punishment for a nuclear test in September will be honoured by China, the reclusive regime’s most important trading and diplomatic partner.
Coking coal price savaged – biggest drop in 17 months
While the price of futures trading in China and Singapore were swinging wildly in recent weeks, the benchmark for the seaborne market – Australia free-on-board premium hard coking coal tracked by the Steel Index – seemed to consolidate above $300 a tonne.
World’s longest traffic jam points to Mongolia recovery
Over 60 kilometers, they line up: truck after truck, after truck. Nearly every one of them is laden with coal.
Coking coal surge may extend if China cracks down on North Korea
The already elevated price of coking coal could be boosted further if China decides to crack down on coal imports from its nuclear-armed neighbor North Korea.
China risks wasting $490 billion on unneeded coal plants — study
China risks flushing down the toilet half a trillion dollars on new coal plants, which according to a study released Monday, the country doesn’t even need.
Chinese policies to support higher coal prices Save to read list
Chinese government policies are expected to support a medium-term thermal coal prices of US$73 per tonne, according to a new report from Wood Mackenzie.
China relaxes coal mining restrictions as supply tightens
China’s top planning body has reversed some of the restrictions imposed in March to local coal miners, as reduced output has dramatically increased prices for the nation’s top energy source.
China reverses coal mining curbs as winter approaches
China adopted new rules to stimulate coal production on Thursday to counter surging prices and Premier Li Keqiang said the country had to balance demand for heating over winter with efforts to tackle pollution.
Can Trump really revive the U.S. coal industry?
With the election of Donald Trump as President, forecasters and analysts are dashing to determine how his policies are likely to affect global energy. It’s likely that his measures will benefit oil and gas, though his consistent vagueness and apparent confusion over industry fundamentals makes that somewhat unlikely.
TerraCom signs Mongolian coal deal
Australian listed coal company TerraCom Limited (ASX: TER), through its Mongolian subsidiary, has executed binding long form definitive agreements with a wholly owned subsidiary of the Kingho Group, one of the largest private coal companies in China, for a 5.5-year offtake of hard coking coal produced from the Baruun Noyon Uul Coal Mine in the [...]
6 reasons coking coal price will tank
Coking coal prices continued to defy gravity on Friday trading at $270.50 a tonne after 18 straight sessions without a down day. According to data provided by the Steel Index premium Australia hard coking coal prices are up nearly four-fold since hitting multi-year lows around $70 a tonne in November last year.
All these Australian mines are reopening thanks to the rally in coal prices
An ongoing rally in the price of Australia’s key exports, mainly coal and iron ore, is prompting miners to restart projects and resume operations at mines that were shut only a few months ago, when both commodities were trading close to 10 years-lows.
No stopping insane coal price rally
The price of both thermal and coking coal gained again on Monday with the Australian export benchmark shrugging off news that Beijing will further relax restrictions on some domestic miners to meet winter demand.
China’s steelmakers the relative winners in coking coal surge: Russell
While no steel maker will be happy with the explosion in coking coal prices, Chinese mills are the best placed to deal with the impact, given they are nowhere near as exposed to spot prices as competitors in the rest of Asia and Europe.
TerraCom signs offtake agreement for Mongolian coal
TerraCom has agreed a 5.5 year offtake agreement for hard coking coal (HCC) from the BNU coal mine in South Gobi, Mongolia, with Kingho Group, one the largest private companies in China.
Thermal coal just hit $100 per tonne and may stay this high until 2017
The amazing rally in thermal coal reached a whole new level Tuesday after Australian spot prices hit $100 per tonne for the first time since 2012.
Wind, solar power plants cheaper than coal in a decade
While met coal is clearly the star performer of the 2016 rally in mining and metals, thermal coal is probably the biggest surprise – seaborne prices are up 65% in 2016 to above $80 a tonne.
Futures markets point to ‘overcooked’ coking coal price
Metallurgical coal was exchanging hands at $213.40 on Tuesday according to data provided by Steel Index, where it has been most of this week as Chinese traders enjoy the annual Golden Week holiday.