Prices for coking coal have increased 15% to $175.70.
The price is an 11 week high and came in the wake of Cyclone Debbie, with the cyclone causing serious damage to key railway lines across the country. The damage is expected to disrupt exports to China for as long as 5 weeks.
According to TSI data and reports by Coal Digest, the global met coal market is around 300 million tonnes per year with premium hard coking coal or PHCC constituting more than a third of the total market. More than half of PHCC seaborne coal comes from Australian producers.