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PCI coal margins on a knife-edge

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17 August 2015

PCI coal margins on a knife-edge

Report summary

PCI quarterly prices have taken a battering, falling to US$73/t in Q3, not seen since the US$68/t annual contract price of 2007. Spot prices are lying closer to 2004 levels at around US$63/t. PCI producer margins are wafer thin.  At US$73/t over 30% of the trade is making a cash loss and at current spot prices that figure rises to almost 80%.  Chinese steel demand, unforgiving trade policies and, importantly, greater supply from China and Russia are to blame.

Table of contents

Tables and charts

This report includes 4 images and tables including:

  • PCI, SSCC and Thermal coal prices (US$/t)
  • PCI premium to Thermal (US$/t)
  • PCI coal margins on a knife-edge: Image 3
  • PCI coal margins on a knife-edge: Image 4

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  • Document

    PCI coal margins on a knife-edge

    PDF 349.31 KB

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