Resources Council expects coal export downturn
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Mr Roche says while coal prices are fixed until early next year, the new contract prices are likely to be lower. (ABC TV)
The Queensland Resources Council (QRC) says the global economic crisis is expected to lead to a downturn in coal exports to China and lower commodity prices in the new year.
But QRC chief executive Michael Roche says it will be offset by the fall in the Australian dollar, with coal industry contracts negotiated in US dollars.
Mr Roche says while coal prices are fixed until early next year, the new contract prices are likely to be lower.
"There will be another price negotiation round in the new year and what the fall in the exchange rate is telling us is that the financial markets are expecting lower commodity prices next time there are price negotiations," he said.
