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The current price of high quality coal - the highest for six years

18 April 2017

Prices for coking coal have risen again up to the end of the week. A benchmark in the industry increased by nearly 5 percent to $ 315/ton. According to Starindex it was not intermittent interruptions in delivery of the goods. The cause of the failures were the storms in the tropical regions held in Australia.

The price of 315 dollars is the maximum for coking coal of high quality. The price level is kept below from April 2011. This jump cost happened due to the floods in Queensland. Due to accident the cost of quarterly contracts greatly increased. The level reached a record three hundred thirty-three dollars.

The increase in the price of coking coal more than 50% as a consequence of impaired sales of coal from Australia. This is due to the storm Debbie, which caused heavy damage to the main railway ligaments. It destroyed roads were the main to service the mines in Queensland.

Work on the first three stations will be settled prior to the end of the week. However, the company Orizon, being owners of the roads do not promise to fix everything at once. To restore long sections of road Goonyella in the center rail of the ligaments need about a month.

Can linger at least twelve tons of coal from Australia. They are intended for Chinese, Indian and Japanese buyers.

Data recently published in the customs control, saying the sale of coal from China. And energy and metals imports increased by twelve percent compared with the same period last year. In February it increased to 20 million tons, or a quarter.

The world coal market is a turnover of around 300 million tons per year. About a third of the total volume of sales is high-quality coking coal. About fifty percent of such raw materials is sold from manufacturers from Australia. Data provided by the Agency Tiesi to review the situation.

Last year the largest decrease in the number of labour days in the coal mines of China became the reason of growth of prices. Coal rose to maximum capacity for many years — about 309 dollars per ton of product. These prices are kept as of the autumn of the past year. For comparison a year earlier the price was seventy dollars per ton. But the unfair price increase soon ceased to stay stable. But prices fell last month to its lowest level this year — around $ 150 per ton of coal.

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