Wesfarmers settles Q2 contract price at $111 per tonne

Wesfarmers Resources has settled the second-quarter contract price for its Curragh hard coking coal at $111 per tonne fob Australia, the miner said on Tuesday May 6.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

This is $9 lower than the benchmark price of $120 per tonne for the April to June period, which itself is down from $143 per tonne in the previous quarter. Curragh is usually settled at just $5 below the benchmark.

The weighted average price for Curragh’s hard coking coal, semi-hard coking coal and pulverised coal injection (PCI) coal will fall by 16% from the previous quarter, according to the statement.

“Approximately 75% of deliveries in the April to June 2014 quarter are forecast to be at the new contract prices with the balance at carry over prices, and subject to actual contract deliveries for the April to June 2014 quarter,” Wesfarmers said.

The company produced 2.375 million tonnes of metallurgical coal from Curragh during the first three months of this year, up 17.1% from the December 2013 quarter.

What to read next
Fastmarkets advises that, as of Friday June 9, some regional ferrous scrap prices and markets have not settled for June; Fastmarkets typically settles these markets on or before the 10th of each month.
Fastmarkets proposes to amend the specifications for its weekly payable indicators for black mass in South Korea.
Learn why delayed universal definitions of green steel means pricing green steel remains a challenge
Fastmarkets has launched two new Green Steel prices for the European domestic market, starting Thursday June 8.
Learn more on why advancements in “green steel” considered unachievable in geographical isolation and require the collaboration of all stakeholders in all regions if they are to succeed.
Fastmarkets has corrected the rand fixing prices for LME-traded base metals, which were published incorrectly on Tuesday June 6 due to a technical error.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.