See here for one coal futures contract that is definitely still listed and being traded.
Link a source for the “coal miners pay off in 1-2 years at current coal prices” claim, please?
It’s a little hard to find an authoritative source for this, as no professional analyst makes company forecasts based on coal prices staying where they are, and a lot of coal companies have contract commitments made when coal prices were much lower, which makes their most recent results worse than they would otherwise be. Whitehaven Coal seems to be an exception to this. Take a look at their latest quarterly report, and noticed how they generated about 1⁄4 of their enterprise value in cash, and check out this coal price chart to verify that current coal prices are still about what the last quarter’s average price was.
https://futures.tradingcharts.com/marketquotes/QL.html buying a contract for coal to be delivered x years from now costs more as x goes up, for oil and corn it costs less as x goes up.
Link a source for the “coal miners pay off in 1-2 years at current coal prices” claim, please?
This seems to be outdated or completely wrong data, as QL is the symbol for Central Appalachian Coal Futures Contract and it was delisted in 2021. But confusingly, tradingcharts.com seems to show the contract still being traded as of 8/12/2022, which I don’t know how to explain. I can’t find any current data about QL on CME’s own website though, or any other website, so this is probably some kind of screwup on tradingcharts.com’s part, like maybe they’re showing some other futures chart under the QL symbol.
See here for one coal futures contract that is definitely still listed and being traded.
It’s a little hard to find an authoritative source for this, as no professional analyst makes company forecasts based on coal prices staying where they are, and a lot of coal companies have contract commitments made when coal prices were much lower, which makes their most recent results worse than they would otherwise be. Whitehaven Coal seems to be an exception to this. Take a look at their latest quarterly report, and noticed how they generated about 1⁄4 of their enterprise value in cash, and check out this coal price chart to verify that current coal prices are still about what the last quarter’s average price was.