Saturday, 31 Dec 2011
Reuters reported that Australia thermal coal price benchmark rose to over USD 116 per tonne in thin year-end holiday trading with near-term supply out of Newcastle, Australia largest thermal coal port, still tight.
Thermal coal on the global COAL Newcastle index for the week to date closed at USD 116.13 per tonne on Thursday up from USD 111.90 per tonne a week earlier. Wet weather and delayed maintenance schedules in the Hunter Valley, Australia main thermal coal producing region has kept supplies for early next year tight and supported prices.
The ongoing closure of the Orica explosives plant that supplies many Australian thermal coal miners has also constrained coal production. Orica explosives plant which supplies major coal miners in the area has been offline for several weeks, but the company is expected to restart the plant in the New Year after pre-start tests this week.
In China, the domestic coal price benchmark fell to CNY 808 per tonne last week from CNY 821 the previous week.
(Sourced from Reuters)
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