Australia: PCI coal export prices surge $10/t d-o-d on supply worries from Russia

Australian low-volatile pulverised coal injection (PCI) coal prices are assessed at $370/t, up $10/t d-o-d on 1 Mar’22. Prices rose because steel mills in Europe, India, Japan, South Korea and South America are facing uncertainty around procuring Russian PCI. Thus, several prompt and spot deals are being heard for Australian PCI. In addition, the European countries are facing supply disruption as vessel movement is restricted in the Black Sea