Coking coal prices have had their biggest one-day jump on...

Coking coal prices have had their biggest one-day jump on record, surging above $US200 a tonne on concern about reduced Queensland exports after BHP Billiton and Glencore declared force majeure on contracts in the wake of Cyclone Debbie.

According to S & P Global Platts, the price of premium coking coal jumped 32 per cent overnight to $US241 a tonne.

S & P Global estimates landslides on the Goonyella train line that services Mackay’s coal ports, expected to take five weeks to clear, will disrupt 15 to 20 million tonnes of coking coal exports.

Queensland is the globe’s biggest coking coal shipper and Goonyella accounts for roughly half of its volumes.

Big miners BHP Billiton and Glencore both yesterday declared force majeure, which means they have told customers they will not be able to fill orders.

“BHP Billiton confirms that force majeure has been declared for all BMA Coal and all BMC Coal products as a result of damage caused by Cyclone Debbie to the network infrastructure of rail track provider Aurizon,” BHP said.

That means all of BHP’s Queensland coal production, at its joint ventures with Mitsubishi and Mitsui, is under force majeure.

BHP’s Queensland mines make it the world’s biggest coking coal exporter.

Glencore said it had also declared force majeure on its Queensland mines.

http://www.theaustralian.com.au/bus...e/news-story/6dfffa6ee427612808534a88bc2bf123