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Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS


Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according to Gerald McCloskey, a founder of the McCloskey Group Ltd. research company.

China imported 11.8 million metric tons of coking coal last month, down 15 percent from July, customs office data yesterday showed. Imports were a record 16.1 million tons in June, according to McCloskey.

“China is unlikely to become self-sufficient on coking coal” in the second half of this year or next year, McCloskey said in an interview in St. Petersburg today. “We see a certain slowdown, but China will continue to import sufficient amounts of coking coal.”

The spot price for Australian coal shipped to China may rise to $200 a ton in the next few months from $175 a ton this month, McCloskey said, citing a survey of Australian producers.

“It provides good opportunities for Russian coking coal producers who have one of the highest costs in the industry,” McCloskey said.
Source: Bloomberg



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Recent News

Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...


Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...


Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...


Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...


Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...


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