Cycle, the divergence is greater than that. There is now a real divergence in coking coal prices across the globe. As others have stated US coking coal prices are ~$160USD whereas AUS coking coal has been ~$105/$110. This is of course related to the Chinese ban on our coal. On the positive we have mines in the US that can continue supplying China at these elevated levels. Also as others have stated our Aus mines dont have any standing contracts with China.
One positive I have seen is the pricing for AUS spot coking coal has jumped above $120 a tonne this morning (ANZ morning update)
From memory every +$10 in coking coal prices is ~$100m in ebitda (last results pres). Dont quote me totally on the $100m, trying to remember rather than dig back through the presentation.
Cheers
Cycle, the divergence is greater than that. There is now a real...
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