Australian budgetCommoditiesIron ore price

Saved by coal! Who’da thunk it?

David Llewellyn-Smith
Wednesday, 12 October 2016
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From Macquarie:

Industry sources have reported that Peabody and Nippon Steel have settled the benchmark 4QCY16 hard coking coal price at US$200/t for North Goonyella product. We assess the potential earnings impact for BHP and S32 if spot prices achieve an average in line with the contract price for 4QCY17 and also the remainder of FY17.

Impact

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.