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1.Market Observations, 8.Was Sticky

26 Oct 2016 (AFR) – Queensland budget receives a $1b boost from surge in coal prices

(26 October 2016, AFR, p8, by Mark Ludlow)

‘Queensland’s budget bottom line is set to receive a billion-dollar boost courtesy of a surge in world coal prices, as the former boom state shows signs of broader economic recovery. Queensland Treasurer Curtis Pitt on Tuesday confirmed the cash-strapped Labor government will receive a significant boost after the spike in coking coal prices, which reached a four-year high of more than $US200 a tonne last month – well above the $US88 a tonne forecast in the budget papers in June.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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