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Nicola Wilson and Charlotte Wilson. Tara Flaherty and Rachel Mackie Best Dressed Gent winner Robin Sellar. Aboutusgeneric_1 Emily Files Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup Nicola and Kylie Pickering (L-R) Tiffany Maskel, Senior Youth Girls runner up Maddison Hite, Senior Youth Girls winner Nicola Pickering and Ben Hungerford. The Paul McGuire Memorial Dachshund Race raised over $4000 for the RACQ Capricorn Rescue Helicopter Service. (L-R) Tony, Jackie, Daly, Layla and Ruby Smith. dragline (L-R) Middlemount Race Club Committee President Donald Black, Isaac Regional Mayor Anne Baker and Middlemount Race Club Committee member Bill Gray. (L-R) Trackside with Isaac Regional Councillor Jane Pickles Mayor Anne Baker and Deputy Mayor Geoff Bethel at the 2017 Middlemount Race Day on Saturday, August 5. Port Matilda Walsh enjoying the entertainment at Saturday’s race day.
Nicola Wilson and Charlotte Wilson. Tara Flaherty and Rachel Mackie Best Dressed Gent winner Robin Sellar. Aboutusgeneric_1 Emily Files Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup Nicola and Kylie Pickering (L-R) Tiffany Maskel, Senior Youth Girls runner up Maddison Hite, Senior Youth Girls winner Nicola Pickering and Ben Hungerford. The Paul McGuire Memorial Dachshund Race raised over $4000 for the RACQ Capricorn Rescue Helicopter Service. (L-R) Tony, Jackie, Daly, Layla and Ruby Smith. dragline (L-R) Middlemount Race Club Committee President Donald Black, Isaac Regional Mayor Anne Baker and Middlemount Race Club Committee member Bill Gray. (L-R) Trackside with Isaac Regional Councillor Jane Pickles Mayor Anne Baker and Deputy Mayor Geoff Bethel at the 2017 Middlemount Race Day on Saturday, August 5.

Thermal coal prices rise
IT’S not much, but better than the alternative.
Wednesday 19 November 2014  

IT MIGHT be a small ray of hope in what is an otherwise stubbornly bleak outlook, but there has been a slight rise in the price of thermal coal selling on the spot market.

The price of coal set for delivery in December was up $0.30 to $63/tonne and up $0.20 to $63.10 for coal delivered in January.

While moving in the right direction, the prices remain half of where they were two years ago.

According to a report from Reuters, the higher prices at the end of last week reflect a slight shortage of coal for quick delivery.

“Most large buyers of coal were well stocked, having built up inventories over the past few months during five-year price lows for many contracts, which means less stock is immediately available for short-term buyers,” the report read.

“There isn’t as much availability in the prompt and short-term contracts, which has lifted prices a little, but fundamentally the market is still depressed.”

The rises happened at the same time as Glencore (formerly Xstrata), announced it would shut its Australian mines down for nearly a month in December, forcing around 8000 workers to take leave.

According to Glencore the decision to pause production is an attempt to reduce the flow of new coal onto an already over supplied market.

“This is a considered management decision given the current oversupply situation and reduces the need to push incremental sales into an already weak pricing environment,” Glencore said in a statement.

“We remain confident in demand growth for our products and believe that the supply and demand balance will be restored in the medium term.

“The shut downs will result in reduced output of about five million tonnes from our Australian assets.”

Local miners at Collinsville, Oaky Creek, Newlands, Rolleston and Clermont coal mines will be affected by the decision.


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