In the wake of Australian floods crippling coal mine operations, the prices of hard coking coal, raw material of steel production, are expected to hit US$500/ton, according to an analysis made by a well-known research and consulting firm on mining, energy and metals.
It’s known that the current spot prices of hard coking coal were around US$275/ton and the ongoing quarterly contract prices were situated at US$225/ton.
It's obvious that the restricted supply of the hard coking coal has provided a strong support to boost the prices of hard coking coal to reach US$400~US$500/ton.
Meanwhile, the floods across Queensland have damaged 91% of Australia's hard coking coal exports assumed to ship to neighboring Asia Pacific region on a regular basis.
Coal Mining shows that there are many companies answers to the call of a cleaner coal to help the environment preserve it's purity and as well as the coal industries longevity. Both must work hand in hand to see the sky rocket success in the coal prices and green house effect. Cherry of www.coalportal.com
ReplyDelete