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Australian metallurgical benchmark price falls to US$109.50/t

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24 March 2015

Australian metallurgical benchmark price falls to US$109.50/t

Report summary

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. 

Table of contents

  • China’s slowed demand a key driver
  • Implications for European prices
  • Exchange rate movement keeps price fairly steady in AUD terms

Tables and charts

This report includes 1 images and tables including:

  • HCC quarterly contract prices in AUD and US$ terms

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    Australian metallurgical benchmark price falls to US$109.50/t

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