Since the November 2013 launch of Metal Bulletin’s fob Australia Premium Hard Coking Coal Index
- the headline price for the coking coal market - two clear phases have emerged.
The first was between November 2013 and August 2016, when Metal Bulletin’s index averaged below $150 per tonne fob Australia on a monthly basis.
September 2016 marked the start of the second phase, one of more extreme price movements.
The index rose to the $300-per-tonne level twice - once in November 2016 and then again in April 2017 - during this phase.
The index also strayed below $150 per tonne over two brief periods - three days in late March 2017, and a little over a month from May 30 of the same year, during which its lowest was $139.33 per tonne.
A closer look at the trajectory of seaborne coking coal prices over these two phases - Under $150 and Above...