Australian Coking Coal Falls as Supplies Improve After Flooding
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Australian coking coal fell 1.5 percent last week as supplies improved after the worst flooding for 50 years in the state of Queensland, supplier of about half the seaborne market.
Hard prime coking coal from Australia sold for $325 a metric ton on average in the week to Feb. 4, down from $330 the week before, according to Petersfield, England-based researcher IHS McCloskey. The prior week’s price was the highest for the data going back to the week ended Nov. 5.