Episode 23 - Met Coal Rebound, High-Vol Tightness, and Global Thermal Tailwinds

Hosts: Matt Warder & Joe Aldina | Brought to you by the Clear Commodity Network

As global commodity markets transition through late summer and look toward the post-monsoon restocking season, hosts Matt Warder and Joe Aldina break down the shifting supply and demand dynamics across metallurgical and thermal coal. The guys highlight how the shoulder-season price floor has firmly formed, supported by early Chinese restocking of seaborne met coal and an unforeseen supply shock stemming from a major underground mine fire at Allegheny’s Longview high-vol operation in West Virginia.

Across the globe, macroeconomic and geopolitical factors continue to underpin energy markets, from Middle Eastern tensions and Strait of Hormuz risks driving European natural gas prices (TTF and JKM) above $21/MMBtu to tight domestic thermal power dynamics in the U.S. PJM and MISO markets. With Australian producers gearing up for earnings reports and high-beta names showing technical strength amid rising short interest, the hosts emphasize an "accumulate" strategy on market dips as coal equities continue to decouple positively from early-summer lows

Stocks Mentioned:

• U.S. Equities: AMR, METC, HCC, CNR, BTU, ARLP, NRP, HNRG (Hallador)

• International Equities: YAL (Yancoal), WHC (Whitehaven Coal), NHC (New Hope), SMR (Stanmore), TGA (Thungela Resources)

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Disclaimer: For information and discussion only - not investment advice. Do your own research.