Australia May Lose 10 Million mt of Coking Coal
Coking-coal miners in Australia may lose
at least 10 million metric tons of output
because of flooding, Bloomberg reported.
That’s equal to about 8% of Australia’s
annual coking coal exports,
based on 2006 data. This month’s
weather forced Macarthur Coal Ltd., the
world’s biggest coal exporter, and
Wesfarmers Ltd. to declare force majeure.
Producers including BHP Billiton
Mitsubishi Alliance, the world’s largest
coking-coal exporter, are in talks with
buyers to set annual prices. International
prices for hard coking coal were set at
$92/mt to $98/mt for the current year,
which ends in March.
As featured in Womp 08 Vol 1 - www.womp-int.com