The price of coking coal and steam coal reportedly increased to $ 300 /ton, for the first time since 2011, when floods in Queensland severely curtailed Australian output.
In the report, the price increase is explained by the decision of the Chinese government to restrict coal production, at least until March next year. This means that Chinese customers will increase their imports of coking coal. Because it will take a lot of investment and time to reopen the closed mines, and Australian coal mines have not been able to significantly increase output.
Normalizing prices may take some time as difficult weather conditions are expected in key producing countries. Global thermal coal prices will be ready for a possible decline when China's imports decline amid rising domestic production.
Coking coal price hits five-year high
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Azovpromstal® 17 November 2016 г. 11:33 |
