The price spread between PCI and PLV narrowed to a historical high of 99.5% on March 24, compared with the average relativity of 72% since Oct. 2011.
The floods in New South Wales had caused thermal coal prices to rise, and on an energy adjusted basis, should lead to higher semi soft prices. However, users will reduce their usage of semi soft, which acts as a filler in the coke oven, and replace it with competitively priced coking coal.