Energy in Australia
Energy-in-Australia-2015
Energy-in-Australia-2015
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Prices<br />
The majority of <strong>Australia</strong>n coal export contracts are based on the Japanese<br />
fiscal year, start<strong>in</strong>g 1 April. Cok<strong>in</strong>g coal contracts are now negotiated on a<br />
quarterly basis, a shift from the annual contracts of previous years. Thermal<br />
coal contracts have <strong>in</strong> recent years also been standardised with a common<br />
coal trad<strong>in</strong>g platform, <strong>in</strong>creas<strong>in</strong>g the liquidity of seaborne coal supply.<br />
High quality hard cok<strong>in</strong>g coal prices for JFY 2015 averaged US$93 a<br />
tonne, a 22 per cent fall from the previous year. Semi-soft cok<strong>in</strong>g coal<br />
averaged US$110 a tonne, an <strong>in</strong>crease of 5 per cent. Average thermal coal<br />
prices fell by 17 per cent <strong>in</strong> 2015 to US$68 a tonne. The decl<strong>in</strong>e <strong>in</strong> average<br />
coal prices <strong>in</strong> the past three years is ma<strong>in</strong>ly attributed to abundant supply<br />
of seaborne coal.<br />
Figure 6.8: <strong>Australia</strong>n benchmark coal prices for Japanese fiscal year<br />
400<br />
2015 US$ per tonne<br />
300<br />
200<br />
100<br />
0<br />
2000 2003 2006 2009 2012 2015<br />
Hard cok<strong>in</strong>g Semi-soft cok<strong>in</strong>g Thermal<br />
Source: Department of Industry, Innovation and Science (2015) Resources and <strong>Energy</strong> Quarterly<br />
ENERGY IN AUSTRALIA 2015 75
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