As reported by Bloomberg, the global met coal benchmark for Q4 rested at $89/tonne, down more than 4% from previous periods – and lower than it has been since 2005.
The bright spot seems to be seaborne met coal, which remained somewhat profitable. The current situation indicates an oversupply of met coal, but because coal is priced in US dollars, currency effects are helping Australian miners.
To read more, click here. Link will open in a new window.