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Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unnamed buyers in China, Japan and South Korea this year.
The company will also ship 2.3 million tonnes of steam coal to these countries this year as it pursues its strategy of expanding in Asian markets.
Mechel, controlled by businessman Igor Zyuzin, did not provide any financial details associated with its coking coal contracts.
China in particular has become an increasingly important market for Russian coking coal producers as domestic steel output slumps.
"I would like to emphasize that entering into new large contracts with Chinese companies allows us to increase the load of our coal mining facilities that is of particular importance in the current challenging business environment," Mechel Senior Vice President Vladimir Polin said in a statement.
Mechel's first quarter coking coal production plummeted 76 percent year-on-year to 1.0 million tonnes as orders from domestic steel producers dried up.
During a conference call earlier this month company executives said key Russian steel producers MMK
Source: Reuters (http://in.reuters.com/article/oilRpt/idINLP87426120090625)
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Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
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- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
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- Xindia Steels Limited - India
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- Australian Commodity Traders Exchange
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- IHS Mccloskey Coal Group - USA
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- The Treasury - Australian Government
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- Electricity Authority, New Zealand
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