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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (10453)	3/19/2004 5:38:28 PM
From: TobagoJack	of 110194

Hello Russ, Followup on Chinese coal export ... it has just come to a full stop as far as the Philippines is concerned. My coal pal told me yesterday that he cannot get coal at any price from China (EDIT: in my book, by my reading, 'not at any price' is a very high price indeed ;0), because there is no export quota at the seller's end. Zilch, and this was in reference to the largest coal company in China. Reference earlier heads-ips: Message 19588827 December 12th, 2003 ... (b) China apparently has decided that it will phase out its coal export program and become a coal importing country; Message 19803115 February 13th, 2004 ... Another juicy bit. My coal trading friend tells me that China just implemented a 33% cutback of coal export quota, so as to retain coal in country. Message 19875867 March 3rd, 2004 Doc V, My coal trading pal just informed me over the phone that the largest Chinese coal companies are reviewing all export term contracts, and starting with the contracts that are priced the least, informing the opposite parties that until and unless they agree to pay a premium over term contract price, there will be no deliveries.

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