Prices for seaborne coking coal in the ex-China market surged on Monday October 1 in the wake of an ongoing fire at Peabody's North Goonyella mine in Queensland, Australia, which appear to have sparked panic among some participants.
A November-laycan cargo of branded materials was traded on Global Coal at $212 per tonne fob Australia later in the day, according to market sources.Bids for unbranded premium hard coking coal shot up to $205 per tonne fob Australia while those for branded materials surged to $209 per tonne fob Australia after that transaction, Fastmarkets MB heard."A panic situation is starting to...