Coking Coal is continuing to explode to new all-time highs this week! Morien Resources (TSXV: MOX) is about to become one of NIA's largest percentage gainers of all-time!
On Friday, September 3rd, the most actively traded Chinese coking coal futures contract settled at 2,617 yuan (US$405.56) per tonne.
On Monday, September 6th (yesterday), U.S. markets were closed but the most actively traded Chinese coking coal futures contract gained by 3.48% on the Dalian Commodity Exchange to settle at a new all-time high of 2,708 yuan (US$419.32) per tonne.
Today, the most actively traded Chinese coking coal futures contract soared another 7.36% on the Dalian Commodity Exchange and is currently trading for a new all-time high of 2,908 yuan (US$449.89) per tonne!
The Dalian Commodity Exchange is the #1 most important coking coal market. North America doesn't have a futures market for coking coal. U.S. coking coal prices from Hampton Roads only get updated once per day and are usually two days behind, but when Dalian coking coal explodes higher a similar upward move for U.S. coking coal almost always follows!
MOX's 2%-4% gross production royalty in the Donkin Coking Coal Mine is about to become one of the most valuable mining royalties held by any small-cap publicly traded company!
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