Coal Prices May Reach $300 a Ton on Queensland Floods, Post Says
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Solid Energy New Zealand Ltd., New Zealand’s government-owned miner, expects contract coal prices to rise to about $300 a ton in the three months to June because of floods in Australia’s Queensland state, the Dominion Post reported, citing Chief Executive Officer Don Elder.
The floods will have a greater impact than those in Queensland in 2008, which caused spot coking coal prices to jump to more than $300 a ton from $125 a ton, Elder said, according to the Wellington-based newspaper. Queensland exports about half of the world’s coking coal for Asian steel mills, the Post said.