Analysts expect any supply disruptions could help put a floor under coal prices, which soared in the wake of Queensland's 2011 floods. Hard coking coal peaked above $US330 a tonne that year but halved through 2012 according to IHS McCloskey's Bruce Jacques, who said there had been a small recovery in the last month before the storms..
The spot price was approaching $US170 ($A163) a tonne, he said, and it was likely the rains would ''edge that up a bit further''.
Read more: http://www.theage.com.au/business/queensland-coal-mines-hit-by-rains-20130129-2dhql.html#ixzz2JJni6rgu
See below for Coal Price after 2011 floods
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