Peabody, Posco settle Apr-Jun PCI at $141/mt FOB Australia, up $18/mt from Jan-Mar
Singapore (Platts)--20Mar2013/410 am EDT/810 GMT
Coal miner Peabody and South Korean steelmaker Posco have signed a quarterly contract for low-volatile PCI coal for April-June 2013 at $141/mt FOB Australia, up $18/mt or 14.5% from the first quarter, buyer and seller sources in Asia and Australia said Wednesday.
The deal at $141/mt FOB applies to Q2 loadings of Peabody's flagship low-vol PCI brand Coppabella, which had been sold at $124/mt in Q1.
Mid-vol PCI Century, meanwhile, was said to have been settled at $130/mt FOB, though this could not be confirmed.
Being between a major producer and consumer, the new settlement seems likely to be considered a global benchmark for Q2.
