Canada's Elk Valley Coal reportedly settled FY2007 PCI volume with South Korea's Pohang Iron Steel (POSCO) at 67.80 US dollars/tonne FOB, up 4.3 percent from 2006 In another deal, Australia's Foxleigh Mining agreed to supply low-vol PCI coal to the Japanese steel mills in FY2007 at 67.50 US dollars/tonne FOB. These contract settlements aren't an exception to the rule, but the trend for FY2007 sources tell Coal Americas, "We really won't be surprised at all to see the price of good quality low-vol PCI coal rise by 5.00 dollars (per tonne) on average to the 70.00 dollars (per tonne) range. Demand is up on the international market and prices should rise considering current market dynamics."
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