July 25, 2008

Canadian coking coal producers win 130% interim increase – Report

The Age without citing anyone reported that Canadian producers of coking coal, used to make steel, have won a 130% interim price increase from steelmakers.

The paper said that coking coal will be sold at USD 225 a ton up from USD 98 a ton for the year beginning April 1st as the price for pulverized coal increased to USD 190 a ton from between USD 65 and USD 70 a ton.

According to the newspaper, provisional price settlements are agreed by smaller producers when there is no benchmark agreed by bigger producers and steelmakers. It said that the price will be changed to the benchmark price once one is agreed.