exactly
Cokal should get premium pricing on the current PCI coal price due to their lower volatile, lower cost for shipping. the discount applied then should still get us higher price.
By the looks of it the Changxi PCI price is not too significnatly different to the PLatts index so I'm still hopeful of the deal to make through but the long term offtake needs to be negotiated hard. $10 per tonne over 2.5mil tonnes is a huge difference and considering when the prices head south thats when it really starts to show up, cokal probably needs to be extra vigilant on the negotiations.
All in my opinion only.
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