One of the largest export coal terminals in the world, Richards Bay Coal Terminal (RBCT)’s exports to India from South Africa has fallen from 2.5-million in March to 1.7-million tonnes in April. The fluctuation is due to rail capacity constraints. One exporter is quoted saying: “The Indian demand is still very strong and steady, there’s [...]
By Desmond McMahon—Exclusive to Coal Investing News Analysts expect coal prices to continue to rise after a strong first quarter performance with demand from China and the United States putting increased pressure on limited supply. And, The World Bank approved funding for a massive coal-burning plant in South Africa. Steel-making coal prices jumped 22 percent [...]
Mining group Xstrata Plc. released first-quarter output and price data on Tuesday. For full story, click here
Reports reveal that Qinhuangdao port has finally witnessed surge in coal price this week after coal price at China’s Qinhuangdao port remained unchanged for seven straight weeks. For full story, click here
As per Han Zhenguo an analyst with Haitong Securities that, coal price fluctuation in 2009 will narrow significantly without any big boom-bust as in last year, adding that the undulation in the whole year may be approximately 10%. For full story, click here
A price war between liquefied natural gas and coal may put a temporary closure to coalmines because of a surge in shipments of the gas from the Middle East into Europe and North America. For full story, click here
China has discovered a new coal field containing more than 13 billion tonnes of proven coal reserves in the northwestern region of Xinjiang, the China News Service reported on Monday. The 1,400 square-kilometre Sha'erhu coal field, located in the county of Shanshan in eastern Xinjiang
A dip in the contract price of coal by 40 per cent is being shrugged off by the industry. However, it will make a multi-billion-dollar dent in national export revenues. PricewaterhouseCoopers mining analyst, Tim Goldsmith, said: You’ve got to look at the fact that last year prices pretty much doubled and in some cases tripled. [...]
Indian steel makers are reluctant to finalize annual contracts for coking coal for 2009-10 as they are trying for a price below USD 100 per tonne against a high of USD 300 a tonne in 2008. For full story, click here
JSW Steel is negotiating a 66% lower rate for coking coal from global suppliers at USD 100 per tonne. For full story, click here
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