Participants remain divided over how they think the seaborne coking coal market would trend following a recent price surge.
The MB Premium Hard Coking Coal Index fob Australia breached the $220-per-tonne mark on Wednesday October 17, its highest since March 12 this year. The index was unchanged on Thursday, at $222.71 per tonne, with no trades confirmed by the data collection cut-off time for the day.A buyer source in East Asia said that Peabody's suspension of its North Goonyella mine following a fire was a likely factor behind the recent rally in prices."While the mine produced only around 3 million tonnes of coal last year, we have had to replace the volumes lost with higher-priced coal in the term contracts," he said."We are also not clear on...