Coking Coal Prices Expected Increase To Reach $200 per ton in 2011
December 8th, 2009 | File Under : Coal - Companies - Trade & Market
Analysts estimate the price of coking coal will rise to reach levels of $ 200 per ton in 2011. Indications of coking coal price increase is marked by increased demand for coal imports by China. Coking coal prices in the spot market have reached $ 175 per ton, compared to the price of coking coal in August of about $ 145 per ton. Industrial sector the most widely used coking coal is the steel-making industry.
Coking coal price increase will affect the price of steel, this condition will affect the income of producers of steel. Analysts predict an increase in coking coal prices would complicate Indian steel producers.
Analysts predict that conditions will be faced by producers of steel, if the price of coking coal increased.
Indian steel producer, on condition anonymity, told DNA Money, “We’ve seen this trend over the last few months as many of Australia’s coking coal exported to China. The Chinese people are feared to buy. We can only hope that the trend is not possible to maintain that many closed mines in China re-opened. “Arun Jagatramka, chairman, Gujarat NRE Coke, one of the largest cocaine producer in the country, told DNA Money,” for the first time China has become a net importer, which has a global impact on applicable short supply of good quality hard coking coal, causing international prices soaring effect. ”
Jagatramka said there are two reasons for the purchase of China. The first is the mine disaster in a row that has happened in the past recently, which has stopped production.
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