This was posted by Rabbi on sharetrader.co.nz. Very significant...

This was posted by Rabbi on sharetrader.co.nz. Very significant for PRC in that HCC prices have clearly not peaked yet...

(From http://www.platts.com/Coal/Resources/News%20Features/cokingcoal08/index.xml, dated July 22 2008)

Coking coal prices top $350/mt as steel demand, supply uncertainty hits market

Platts latest Q3-2008 coking coal price assessments showed spot values gaining across the board for all varieties, compared to the previous quarter on the back of several record benchmark term contract agreements and continued tightness in the global metallurgical coal market.
Spot coking coal prices have increased every quarter in the past year.
Premium low-volatile hard coking coals from Queensland (See chart: Australia Queensland Coking Coal) and North America (See chart: Us Hamptons Road Coking Coal) were assessed at $350/mt and around $320/mt respectively for July to September, up from $320/mt and $285/mt in April to June.
Spot prices have moved up from the $300/mt April settlement between BHP Billiton Mitsubishi Alliance (BMA), the world's largest coking coal exporter, and Japanese steel mills for premium hard coking coals supplied under term contracts during the year started April 1.