Not a good sign for thermal coal prices (and miners):
In a multibillion dollar bid to clean up air pollution, Beijing is shutting down its coal-fired plants and replacing them with natural gas-fuelled power stations by the end of next year.
via Beijing pushes to improve air pollution – FT.com.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.