The Company is a low-cost integrated mining and steel group mining business focused on mining products used in the production of steel, primarily coking coal, iron ore and nickel. It also produce a significant amount of steam coal.
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I'm adding this as a tracking position. My intuitive sense is that this company will likely be one of the prime peripheral beneficiaries of the flooding in the Queensland region of Australia.Australia is the number one exporter in the world of the coking coal which Chinese industry is so dependent on. Indonesia and Russia rank next, but Indonesia last year exported in excess of their production, indicating to me that they are drawing down stockpiles. Russia on the other hand produced more then it exported indicating to me that they have more a greater flexibility to ramp up their exports to China then Indonesia does. Furthermore, I believe that Mechel is the #1 producer in Russia of this critical fuel to Chinese production. I'm expecting the shock to supply coming out of Australia to translate into higher prices as world supplies get repositioned to compensate.For now, I'm purely speculating with this tracking pick, but I intend to confirm my suspicions and expectations through additional research.I have no idea yet exactly what the impact of this sales spike is likely to be on the bottom line for MTL as they are a large and diversified company, but I do intend to find out.