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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

Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall * Asia 2010 thermal coal imports expected to rise 6.3 pct * China to become net im ...


Tuesday, 22 September 09
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* Colombia producers hope for growth in Asia shipments * Panama Canal will allow smaller coal Capesize vessels * Australia, Indonesia to remain bi ...


Monday, 21 September 09
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Friday, 18 September 09
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Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...


Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...


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