Insight
PCI coal margins on a knife-edge
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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$73/t over 30% of the trade is making a cash loss and at current spot prices that figure rises to almost 80%. Chinese steel demand, unforgiving trade policies and, importantly, greater supply from China and Russia are to blame.
Table of contents
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PCI pricing has lost support
- PCI margin curve @ contract price of US73/t FOB
- PCI margin curve @ spot price of US63/t FOB
Tables and charts
This report includes 4 images and tables including:
- PCI, SSCC and Thermal coal prices (US$/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
What's included
This report contains:
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