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Senin, 28 Februari 2011

Coking coal contract prices to go above USD 300 per ton - Hellenic

Gujarat NRE Coke Ltd, the flagship entity of the Gujarat NRE group, said that it is expecting coking coal contract prices to rise above USD 300 per tonne from April this year.

For the current quarter coking coal contract prices stood at USD 225 per tonne.
"Quarterly (coking coal) contract price which was set at USD 225 (per tonne) for this quarter could go above USD 300(per tonne) from April 2011," Gujarat NRE Coke Chairman and Managing Director Arun Kumar Jagatramka told reporters on the sidelines of a function. "Coking coal supply is stuck due to floods in Australia which is pushing up the prices," Jagatramka added.
He, however, enthused confidence that the prices might slip to USD 200-225 per tonne in next six months when the supply comes back to normal.

A study recently said that the prices of coking coal has gone up by USD 40-50 per tonne due to floods in major producing region Queensland, Australia.
Queensland, which is badly hit by recent floods, accounts for 40-45 per cent of the world''s exports of coking coal. It further said that reflecting the sharp increase in spot prices, coking-coal contract prices for the April-June quarter will rise by 15-20 per cent quarter-to-quarter to USD 260-270 per tonne.

Last month Tata Steel had said that the prices of raw materials such as coking coal are rising and will continue to rise in the near future. The price of spot coking coal is currently hovering around USD 260-265 a tonne in Queensland, the largest coal producing province in Australia, which is facing its worst-ever floods in the past few decades.

Besides, the company said that at present it is focussing on development of its both coking coal mines in Australia. "We are concentrating on development of mines... both mines are developing new infrastructure," Jagatramka said.
Gujarat NRE coking coal mines in Australia has around 625 million tonnes of coking coal resources. The company would increase hard coking coal production from the current level of two million tonnes per annum (MTPA) to six MTPA by 2014-15.
Posted by Saham Pilihan at 21.55

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