Since it could take six months to pump flood waters out of Queensland’s coal mines, the disruption could be felt for some time. [Coal ETFs Surge as Floods Threaten Production.]
Ben Sharples for The Daily Crux says analysts believe that the global price for coking coal could surge to $400 or $500 a ton based on Australia’s diminished production.
For more information on coal, visit our coal category.
Max Chen contributed to this article.