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Club Persons of the Year were Roydon Brown, Shane Pingel, Merry and Allan Pidgeon Under 17 Girls team Under 15's Award Winners Aboutusgeneric_1 kaleb and Gino Under 6 team Under 17's Girls Award Winners (L-R) Bronte and Fallon Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup Under 17 boys Award winners mine Greg Byrne, Downing; Ian Reed, QNP The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly Construction Aboutusgenericimage_3
Club Persons of the Year were Roydon Brown, Shane Pingel, Merry and Allan Pidgeon Under 17 Girls team Under 15's Award Winners Aboutusgeneric_1 kaleb and Gino Under 6 team Under 17's Girls Award Winners (L-R) Bronte and Fallon Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup Under 17 boys Award winners mine Greg Byrne, Downing; Ian Reed, QNP The Gavin Daly Memorial Shield was won by Bailey Keabel and Jack Pidgeon seen here with Sonia Daly

RBA index driven higher by coal
Continuing signs that the coal price recovery not a flash in the pan.
Wednesday 04 October 2017  

The coal sector is continuing to drive the national economy according to the latest report on export prices by the Reserve Bank of Australia.

The RBA puts together a weighted index of the prices we receive for all our commodities, which gives a good indication of the sort of income the country as a whole will get for its exports.

Given coal accounts for roughly a quarter of exports, an improving price has large implications for the entire economy.

The RBA says that despite falling from recent highs, the index of commodity prices is still up nearly 15% for the year.

“Over the past year, the index has increased by 14.4 percent in Australian dollar terms, led by higher coal and iron ore prices,” the Reserve Bank said.

“Consistent with previous releases, preliminary estimates for iron ore, coking coal, thermal coal and LNG export prices are being used for the most recent months, based on market information.

“Using spot prices for the bulk commodities, the index decreased by 1.9 percent in September in SDR terms but remains 13.2 percent higher over the past year.”

The index figure confirms that 2017 has been a recovery year for coal mining.

In August Peabody says it averaged  $US145 a tonne for its Australian coking coal, after a roller coaster ride that saw prices hit $304 per tonne, before dropping to $139 a tonne, and then rebounding to a second-quarter benchmark price for hard coking coal of $US194 per tonne.

Peabody says it averaged $US 70.37 a tonne for its thermal exports.

“Within seaborne metallurgical coal, strong import demand has continued on steady growth in global steel production led by China,” they said in August

“Peabody expects full-year 2017 seaborne metallurgical coal demand to increase 5 million to 10 million tonnes compared to 2016.”