It is reported that Russian coking coal producers will raise their prices this month representing their first price increases since the start of the global economic crisis.
The increase is seen as an indication the Russian coal sector is approaching the end of diffucult times and that the sector is registering a progressive reanimation.
The Russian coal mining company Belon Group is the first domestic company to announce an increase in its coking coal price, up almost 62% compared to the H1 price level. This week Belon completed the signing of coking coal supply contracts for the next four months at a price level of RUB 3,000 to 3,100 per tonnes FCA Kuzbass. Meanwhile other Russian mining companies will also increase their prices of coking coal by approximately 50% to 60%.
Source: Steel Guru
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