They all follow each other... if thermal drops, coking and PCI both drop too. But you're right, PCI would more strictly follow coking coal prices.
Not that there is any joy to be had there either. The HCC price is still crap.
A lot of analysts think it will recover this year but I don't know... if we can get back to $200-ish for HCC and $150-160 for PCI then Baralaba starts to look pretty healthy.
coal price -lowest settlement price since 2009, page-7
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