While damage to mines and infrastructure as a result of Tropical Cyclone Debbie is yet to be fully determined, it’s already had an impact on seaborne coking coal markets.
Vivek Dhar, mining and energy commodities analyst at the Commonwealth Bank, explains:
While the damage from Cyclone Debbie to Queensland’s coal sector is still unknown, the mines that have suspended production account for around 15% of global seaborne exports of coking coal. The overall impact could be greater as port and rail infrastructure have halted activity too. We expect to know the full extent of damage in coming days.
Overnight the storm was downgraded to a tropical low, although the system is still expected to dump large amounts of rainfall over the region throughout Wednesday.
Here’s the latest modelling from the Bureau of Meteorology.