Excellent news, the March quarterly contract prices were set at UA$285/t. This is the benchmark price and cements the huge rally, a lot of people don't buy into the spot price as volumes are lower typically
"Coking coal miners will be paid 42.5 per cent more for their product in the New Year, after the benchmark contract price for the first quarter of 2017 was settled at the highest price since 2011.
Steelmakers and miners were keen to agree before Christmas on a price for the period between January 1 and March 31, and they have agreed that premium hard coking coal sold under the contract will be priced at $US285 per tonne during the period."
