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Thursday, February 16, 2012

Russia cuts 2011 coking coal exports by 21pct as China demand drops

Thursday, 16 Feb 2012

Bloomberg reported that Russian exports of steelmaking coal declined 21% last year to 14.2 million tonnes because of lower demand from China and periodic halts at some Siberian mines.

The Economy Ministry in Moscow said China decreased purchases of Russian coking coal 41% from the previous year to 1.5 million tonnes. Ukraine accounted for 40% of exports while Switzerland where Russian producers have trading divisions represented 15%.

The ministry said export prices advanced 46% from a year earlier to USD 174 a ton. Production of steelmaking coal in Russia fell 3% last year to 64.7 million tonnes while domestic demand added 5% to 52 million tons. The industrial safety regulator temporarily halted mines run by OAO Raspadskaya and OAO Mechel during the past year damping output.

The data showed Russia imported almost 1.5 million tons of coal from the US more than double the previous year.

(Sourced from Bloomberg)

1 comment:

Coal said...

The call to reduce the use of coals is valid for western countries but unfortunately, coal statistics show developing economies are more likely to increase their use of coal in coming years because of its affordability and to meet increasing demands for electricity and steel for the coal industry.