ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Steelmaking coal climbing out of recent valley

Aussie cyclone pushes prices to highest level since January

 (placeholder image)
A coal ship waits to be loaded at port in Gladstone, Australia, in January 2011.   © Reuters

TOKYO -- After falling sharply since November, spot prices of coking coal have begun recovering in the wake of a cyclone that damaged railroads in an Australian coal-producing region.

Bellwether Australian coal, selling for $170 to $180 a ton, has risen 20% in the past two weeks to the highest level since late January. China observed a holiday from Sunday to Tuesday, leading a growing number of market watchers to expect a possible rush of purchasing by traders with the holiday's end. Coking coal is used to make steel.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more