Kailuan Energy hikes price of fat coal
It is reported that Kailuan Energy Chemical hiked the price of fat coal by about 8% or CNY 102 per ton from CNY 1,282 per ton to CNY 1,384 per ton effective January 1.
Asian thermal coal prices are near their floor and any further steep price fall is unlikely, the head of Chubu Energy Trading Singapore Pte Ltd,a coal trading unit of Japan's second-biggest coal buyer Chubu Electric Power Co.``At around the per-tonne $90 level, we are beginning to see miners being forced to produce coal below cost,'' Kazunori Kasai, managing director of CET.The price could temporarily dip below $90, but a drastic fall, say 20 or 30 percent, is unlikely to occur as global production cuts and job cuts begin to take effect.