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Russia Cuts 2011 Coking Coal Exports 21% as China Demand Drops

Friday, 17 February 2012 | 00:00
Russian exports of steelmaking coal declined 21 percent last year to 14.2 million metric tons because of lower demand from China and periodic halts at some Siberian mines.
China decreased purchases of Russian coking coal 41 percent from the previous year to 1.5 million tons, the Economy Ministry in Moscow said on its website. Ukraine accounted for 40 percent of exports, while Switzerland, where Russian producers have trading divisions, represented 15 percent.
Export prices advanced 46 percent from a year earlier to $174 a ton, the ministry said.
Production of steelmaking coal in Russia fell 3 percent last year to 64.7 million tons, while domestic demand added 5 percent to 52 million tons, the ministry said. The industrial safety regulator temporarily halted mines run by OAO Raspadskaya (RASP) and OAO Mechel (MTLR) during the past year, damping output.
Russia imported almost 1.5 million tons of coal from the U.S., more than double the previous year, the data showed.
Source: Bloomberg
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