I’ve obviously been following the coking coal price slide closely. Three weeks ago BHP announced a new quarterly contract at $145. Wesfarmers is out today with a new one $5 lower:
Compared with a free-on-board price of $US167 per tonne from April to June, a price of $US140 a tonne from is expected from July to September for Curragh’s met coal, which is used in the manufacture of steel.
Spot is trading at $130. BREE’s full year forecasts for this year and next are $160, cough.