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Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T


Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to renewed demand, a company source said.

The source on Thursday added that steel production will remain flat at about 6 million tonnes. In 2009, Mechel produced 10.24 million tonnes of coking coal and 7.54 million tonnes of steam coal.

The source added that this year Mechel expects to produce about 18 million tonnes of coking coal.

Coking coal prices have risen sharply in recent months, and analysts at Moscow's Uralsib bank on Monday wrote that Mechel is in talks with Russian clients to raise its Kuzbass prices to $110-$120 per tonne.

The bank also wrote that Mechel is currently exporting coking coal from Yakutugol in Russia's Sakha Republic to Asian buyers at $205 per tonne.
Source: Reuters



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Recent News

Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...


Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press  reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...


Sunday, 28 March 10
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Sunday, 28 March 10
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Saturday, 27 March 10
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