From their latest report (headlined under ''Coal Market Outlook'':
Yancoal sells most of its thermal coal at prices
associated with the All Published Index 5 (API5)
5,500kCal index, with the balance priced off the
GlobalCOAL NEWC 6,000kCal NAR index (GCNewc).
During 1Q 2022, the API5 price averaged US$174/t
after peaking at over US$300/t. The GCNewc index
also jumped to record levels; it averaged US$264/t
after peaking at over US$395/t.
Although having retreated from peak levels,
international coal indices remain remarkably robust
compared to prior years. The metallurgical and
thermal coal markets have sound demand
fundamentals, and we see this as supportive of the
price outlook during the first half of 2022.
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