Australia met coal prices to drag on US exports

摘要

Less than 20% of Australian seaborne coking coal supply looks threatened on a cash-cost basis due to local currency weakness against the US dollar, while the US industry is hit by unsustainable price levels, JP Morgan said Wednesday. The investment bank noted that as Australian coking coal supply accounts for almost two-thirds of the seaborne coal market, the weak Australian dollar has an immediate effect in shifting down cost curves, allowing prices to fall further.