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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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Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
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Friday, 25 September 09
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Friday, 25 September 09
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Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...


Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
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Thursday, 24 September 09
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