In line with the trend witnessed in May, seaborne coking coal prices moved up in June 2018, mainly on supply concerns for the near term, market sources said.
According to information available with Steel Insights, the premium variety was quoted higher at $197 per ton FOB Australia on June 29, 2018 as against $191 per ton FOB Australia on May 31, 2018. Peak Down prices were quoted at $198 per ton FOB Australia on June 29, 2018 as compared to $192 per ton FOB Australia on May 31.
Changes made by Queensland’s rail freight operator Aurizon to its operational and maintenance practices have been flagged by the market as the major cause for uncertainties over supply in the coming months. According to trading sources, Aurizon had announced these changes in February, but the problem was highlighted in June. There was heightened concern that coal throughput on the main Goonyella rail line in Queensland may be affected in the near future.
Aurizon is Australia’s largest rail freight operator and operates in the Central Queensland Coal Network, which accounts for the bulk of Australia’s coking coal exports. Queensland exported some 151 million tons of coking coal in 2017.
This story is from the July 2018 edition of Steel Insights.
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This story is from the July 2018 edition of Steel Insights.
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