TH and HUAAN
HUAAN price has gently dipped to 0.460 without much support from TH. If you take a closer look, TH has acquired the last 132,000 lots to make it a perfect 8.000% on 11 Dec. Since then, there is no further accumulation, and the price has started to shake and move south.
While TH might have completed its acquisition for the rest of the year. The big question is, is TH going to increase its stake next year? Without the support from TH, can HUAAN survive at current price?
HUAAN Outlook
Metallurgical coke price in city of Linyi, China has stabled at ~RMB1850 per ton since August till Dec 2009.( From external source).
As expected, HUAAN itself reported a stable margin of earning for month of Nov. (See attached pic)
From the price movement, HUAAN is in the consolidating stage with little volume (esp. without TH). Let's just wait until we can see some support before going in.
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