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Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives with knowledge of the deal, said.
The mill will pay $80 a metric ton to $85 a ton for the coal for the year started April 1, down from $240 a ton a year earlier, said the executives, who declined to be identified as the agreement is confidential. The deal for the Australian coal was reached with Xstrata Plc, the executives said today.
Steelmakers in Asia and Europe are slashing production as a global economic slowdown curbs demand from builders and carmakers. Japan’s steel output dropped by a record 44 percent in February from a year earlier to the lowest in four decades. Nippon Steel last month also won a 57 percent price cut for hard coking coal for this fiscal year and a 63 percent drop for pulverized coking coal, according to industry executives.
“The price cuts for all the varieties of coking coal will have roughly a 10,000 yen ($100) a ton cost benefit per one ton of steel products,” UBS AG analyst Atsushi Yamaguchi said.
Nippon Steel had sought a return to the 2007 price level of $65 a ton for semi-soft coking coal.
Hiroshi Nakashima, a spokesman at Tokyo-based Nippon Steel, said he couldn’t comment on raw material prices. James Rickards, spokesman for Zug, Switzerland-based Xstrata’s Australian coal unit, said the company didn’t comment on price negotiations.
Source:http://www.bloomberg.com/apps/news?pid=20601081&sid=adQ6W_HJzLYQ&refer=australia
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Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
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- Ambuja Cements Ltd - India
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- Ministry of Finance - Indonesia
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