coking coal that is..McCloskey Coal reports a growing shortage...

coking coal that is..

McCloskey Coal reports a growing shortage of PCI coal for the steel industry with suppliers feeling the pinch from a shortfall at Dalrymple port in Australia and other production difficulties. According to the McCloskey report, spot deals are being done in the “mid 70s”, compared with this year’s $67.50/t fob contract price in Japan and recent European contract settlements at around $68-69/t. It is reported that traded coke prices are now up to $220/t 20% higher than at the start of the year (1 tonne of ULV PCI coal substitutes for around 0.9t of coke in a blast furnace).