Business
Why is the Whitehaven Coal (ASX:WHC) share price up 12% this month?
The Whitehaven Coal Ltd (ASX: WHC) share price is up 3.54% today and 12.50% since 1 March, flying in the face of the Chinese coal ban that threatened to decimate the Australian industry.
Whitehaven is Australia’s largest independent coal producer and operates four mines in northern NSW alone. The company is exposed to fluctuations in coking coal prices, which recently increased by US$1.70 per tonne to US$130 per tonne due to increasing Chinese demand.
However, Whitehaven doesn’t have any direct exposure to China and has largely benefitted from increasing industrial demand driving up fuel prices.
The miner dropped 30% of its 2019 revenue in 2020, but since the company released its half-year results in February, the Whitehaven…
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