Business
China paying through the nose to snub Aussie coal – The Australian Financial Review
Canadian coal miner Teck Resources says it is reaping a price premium selling into China as Australian producers are left out in the cold.
Additional spot sales to China were concluded gradually as the price was rising and achieved an average premium in excess of $US35 per tonne above Australian FOB spot pricing at the time each sale was concluded, Teck said in a market update.
Our contract sales to Chinese customers are also priced on the basis of CFR China price assessments. The most recent three cargoes were sold at prices between $US160 a tonne and $US165 a tonne CFR China.
In a declining coal price environment, our realised coal…
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