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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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Saturday, 20 June 09
MINING LICENSE PROCEDURES `PROPER' - (UPDATE 3)
All 13 coal mining firms operating in Sawahlunto, West Sumatra, complied with procedures in obtaining their licenses, authorities say, as a recent m ...
Saturday, 20 June 09
TECK SEES 2009 COAL SALES AT UPPER-END OF FORECAST
* Sees 2009 coal sales at upper-end it of prior forecast
* Says increased Chinese demand, driving brighter outlook
Teck Resources Ltd said on Fr ...
Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for ...
Saturday, 20 June 09
AUSTRALIA'S NEWCASTLE THERMAL COAL PRICES FALL 7.7% TO $70.81
Power station coal prices at Australia’s Newcastle port, a benchmark for Asia, fell 7.7 percent, declining for the first time since the week e ...
Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
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