short-term dynamics of individual markets. Furthermore, we examine whether logistics enter coal price dynamics through …In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value … chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in …

Australian market remains the dominant force in setting world coal prices, followed by Mozambique and South Africa. We find …. While China provides a major source of volatility to the global coal market, it is relatively insignificant in terms of price …We examine the degree of integration of the global steam coal market. Using a variety of measures, we show that the …