Goodbye Budget. Via Mining:
The Australian export price of metallurgical coal (FOB hard coking coal Fastmarkets MB) used in steelmaking tanked 7% to $122.50 a tonne. That’s down almost $70 a tonne compared to the start of the year.
Fastmarkets MB in a market report says the availability of ample cargoes of lower quality seaborne coking coal and a lengthy, uncertain customs clearing process “have raised the possibility of traders engaging in panic selling”:
