| News & Trends | ||
| Chinese coke prices facing volatile situation - 21 Nov, 2008 | ||
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It is reported that China's coking price has undergone roller coaster like changes it surged CNY 1,200 per tonnes within half a year, and then plunged CNY 1,200 per tonnes in less than 3 months. Under such circumstances of weakening demand and stumbling price, coking enterprises have pointed to all round red. A stuff of Shanxi Coking Industry Association said that "In the beginning of the year, the FOT price of coke stood at CNY 1,780 per tonnes, and then after several times of rising it reached CNY 2,980 per tonnes in July, jumping by CNY 1,200 per tonnes. Now the price has plummeted to less than CNY 1,700 per tonnes within 3 months." He described the price change as a "roller coaster. It is said that, they offer CNY 1,400 per tonnes to CNY 1,500 per tonnes and CNY 1,300 per tonnes for that inferior, to steel manufacturers in Hebei's Tangshan area. However, since August the price started to go down, sometimes even by CNY 1,000 per tonnes within just a month. Enterprises are saddened by the overwhelming changes. An expert of Shanxi Coking Industry Association analyzed that the sharp rise was led by roaring upstream coking coal price, while the slump was caused by sharp decline in demand. Coking enterprises are but helpless to the dramatic changes. According to Mr Zhang Gangfeng secretary general of Shanxi Coking Industry Association, in September and October, the coke industry incurred CNY 3 billion of loss, and some large enterprises suffered CNY 100 million of loss in merely a month. Calculated on the basis of 1 million tonnes grade private coking enterprises, the amount of loss in one month for each enterprise reaches CNY 60 million. Shanxi Coking Industry Association has called on coking enterprises to cut production. Some enterprises had halt as high as 70% of their production, and set the coke guide price of the month at CNY 1,800 per tonnes. The association has started to urge enterprises to cut production since this June, from the degree of 30%, to 40% and 50%, and then the production cut reaches 70% today. One coking enterprise in Shanxi province expressed that it planed to wholly cut its production if the market still keeps gloomy. (Sourced from MySteel.net) | ||
| News And Trends | ||
 | Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
