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Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG


Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the steelmaking ingredient demand a change in the pricing system.

Suppliers prefer quarterly pricing rather than annual contracts, the Pohang, South Korea-based company said in earnings information given to investors in Seoul today. Coking coal suppliers hold annual talks with steelmakers to fix benchmark contract prices for the 12 months from April 1.

Prices of iron ore and coking coal for immediate delivery remain strong as demand rose because of an economic recovery, Posco said today.
Source: Bloomberg



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Recent News

Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...


Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
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Friday, 01 January 10
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Thursday, 31 December 09
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Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...


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YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...


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