Coal Prices to Soar with Queensland Floods; Rio Declares Force Majeure
Like sugar, global prices of coal are expected to go up in the coming months as an aftermath of the flooding of the Australian state of Queensland on the last week of January.
Australia is a major producer of coking coal and the bulk comes from the inundated state. Heavy rainfall halted production at some Queensland coal and even gold mines and flooded as well rail tracks and roads, also affecting coal deliveries.
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