CAPITAL MARKETS

Strong Australian dollar to hit coal exporters

SPOT steam coal prices ex-Newcastle plunged to US$22.80a tonne FOB in mid-April, but recovered slightly through the later part of the month to end at US$23.00/t FOB. With the Australian dollar now at US63c Australian exporters with average cost structures would make zero profit on spot sales at current price levels, writes Clyde Henderson of Energy Economics.

MiningNews.Net

Strong Australian dollar to hit coal exporters

The incipient recovery in Pacific Rim spot prices is expected to gain momentum over the next couple of months as producers constrain output and Asian consumers increase purchases in advance of the northern...

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