Soaring coking coal prices are now approaching boom time levels...

Soaring coking coal prices are now approaching boom time levels

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Coking coal prices are approaching $US300 per tonne Joe Armao

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by Peter Ker
The extraordinary rally in coking coal prices is now pushing towards boom time territory, with the spot price for premium Australian coking coal rising more than 7 per cent overnight.
Top quality Australian coking coal was selling for $US289.30 per tonne this morning, having leapt from $US270 per tonne the previous day.
Coal isn't the only bulk commodity boosting government revenues; iron ore prices have also been stronger than expected in 2016, and a 4 per cent rise overnight pushed the price close to a seven-month high of $US67.43 per tonne.
Iron ore surged higher on the back of higher steel and iron ore futures in China, and was boosted by news that iron ore exports from Port Hedland jumped 14 per cent over the year to 41.6 million tonnes, reflecting strong demand in China.
The strong rise in the coking coal price came after futures soared the maximum allowable level in China on Monday, and it extends a winning streak for coal prices that has been running all year, but particularly since June. we are so fortunate to Have KR and clowns lead the way