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Coking coal price hike – to burn profits for steel producers?

Coking coal price hike – to burn profits for steel producers?

JFE Steel, Japan`s sixth-largest steel company has signed coking coal contracts at USD 200/t, a 55% increase from USD129/t last year. The price is for the Apr-June 2010 quarter. Globally, steel demand is in the recovery phase, and brokerage house Ambit Capital (P) expects contract prices in the subsequent quarters to be firm and potentially [...]

Big Win For BHP Coal, Iron Ore Next?

Let's just get one thing out of the way first, because it can be confusing. One cannot simply refer to the price of “coal” because then it is not clear if one is talking about thermal coal, metallurgical coal, coking coal, coke, or PCI coal. The first simple categorisation is thermal coal is that which is used to fire power stations and [...]

FACTBOX-Role of coking coal in global steel production

BHP Billiton (BHP.AX: Quote, Profile, Research)BHP.L has reached terms for a significant portion of its hard coking coal volumes for 2010 with customers in China, Japan, India and Europe. Here are some facts about coking coal. -- World No. 6 steelmaker Japan's JFE Holdings Inc (5411.T: Quote, Profile, Research) of Japan has agreed to pay BHP [...]

Steel over guns: Barrington Beckford’s easy choice

SOME of the men in his community admit to murder, gun toting, extortion and other forms of crime, but Barrington Beckford has so far managed to stay on the right side of the law. The 25-year-old HEART graduate is skilled in steel work and masonry. He builds houses for a living. "Mi nuh haffi fire gun. Mi can find my way out because mi skilled [...]

Tata Steel sales up 22% in April-Feb

“Tata Steel completed February with an increase in its hot metal, crude steel and saleable steel production over the corresponding month of last year,” the company said in a statement today. The firm’s total production of hot metal rose by 17 per cent to 6.60 million tonnes, crude steel by 18 per cent to 6 million tonnes and saleable [...]

Steel giant gets the shaft

THE dramatic thawing of relations between ArcelorMittal SA and its biggest iron ore supplier masks years of discomfort between the two giants over the 2001 sales contract from the Sishen mine. A research note published this week by Macquarie First South ­analysts David Pleming and ­Avishkar Nagaser predicts that ArcelorMittal SA’s profit [...]

Wuhan Steel Group Seeks More Iron Ore Assets Overseas

Wuhan Iron & Steel Group, China’s third-biggest steelmaker, is seeking to invest in more overseas iron ore assets to cut reliance on expensive imports, General Manager Deng Qilin said. “We aim to be self-sufficient in iron ore supplies in three to five years and reduce purchases,” Deng, who’s also chairman of the China Iron & Steel [...]

See operating margins for FY10 at 19%: Visa Steel

With spot iron ore prices running at an alarming rate, steel mills might well have to warm to the idea of a moderate increase in prices next year. Analysts estimate price increases to be in the range of 10-60% as new contracts are being negotiated.

BHPB gets 55pct hike in coking coal from JFE Steel

BHP Billiton Ltd won a 55% price increase from JFE Holdings Inc’s steel unit as supplies of the raw material tightened with the global economic recovery. Mr Eiji Okumura a spokesman of JFE Steel said that JFE will pay USD 200 a tonne for a three month contract starting April. That compares with USD 129 a tonne for the year ending March [...]

AK Steel to add surcharge for steel products

AK Steel Holding Corp. said Wednesday it has added a $330-per-ton surcharge for electrical steel products shipped in April. The surcharges will apply to a broad range of stainless steel products and are based on reported prices for raw materials and energy used to make the products, the company said. Shares of AK Steel rose 74 cents, or 3.3 [...]

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