Australian Coking Coal Rises 6.9% as Flooding Disrupts Supplies

Coking coal from Australia, the world’s biggest exporter of the variety, jumped 6.9 percent last week as flooding disrupted supplies from the state of Queensland.

Australian coking coal rose to $265 a metric ton on average last week from $248, according to Petersfield, England-based researcher IHS McCloskey. Contract prices reached a record $300 in 2008. They may return to that level, Colin Hamilton, a London-based analyst at Macquarie Group Ltd., said by phone today.