Steelmaker JFE says surging coal prices to hit profits

JFE = high quality steel? Surely the rise in the JPY must have offset some of the rise in coking coal prices...?

It surge to $250 us because Japan sercured the next 6 months at $200 us of Australian coking coal. Before that contract was made, Australian coking coal was $100 us per ton. With the turn down over the last 3 years in coal a large part of the mining work force was lay off. So it will take a very good contract for one the move back into mining. I assume the $200 price contains plenties like quality and on time delivery. Japan steel makers was short on estimates of the last 12 months and the on next 6 months and had to dig deep to cover the estimate error. Like the mine owner have mothball plants and plant equipment or move in on to other mines. So Plants have to rebuild equipment and their mine work force. Like Mining jobs in Australian is very good money but a meaningless Job. 95% 0f mines are fly in fly out and have very little in community living. Long hours and short stays like 12 hours on- off for a 2 week to 4 weeks straight, then off work for the same time. So it not a attractive Job prospect not knowing when the next turn down will be.

If there is excess supply as the article states twice, why is the price of coking coal rising?

It should be the opposite!

Nonsensical!