Anglo American's contract settlement with Japanese Steel Mills at US$109.5/t for premium hard coking coal brings to an end a week of uncertainty regarding the outcome of Q2 2015 negotiations. Anglo accepted the number after Rio Tinto and Peabody signed at that price. In AUD terms, the settlement is close to the previous quarter’s agreement. With freight rates at multi-year lows, much Australian coal has been moving to Europe, where the US will be challenged to sign at higher numbers.
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Insight | Mar 2015
Australian metallurgical benchmark price falls to US$109.50/t
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