Analysts estimate the price of coking coal will rise to the level reached $ 200 per ton in 2011. Indications of an increase in coking coal prices are indicated by the increasing demand for coal imports by China. Coking coal prices in the spot market have reached $ 175 per ton, compared with the price of coking coal in August of about $ 145 per ton. Industrial sector the most widely used coking coal is the steel-making industry.
The increase in Coking coal prices will affect the price of steel, this condition will affect the income of producers of steel. Analysts predict an increase in coking coal prices would make the Indian steel producers.
Analysts predict that conditions will be faced by producers of steel, if the coking coal price increases.
Indian steel producer, on condition anonymity, told DNA Money, "We've seen this trend for several months because a lot of Australian coking coal exported to China. The Chinese people feared to buy. We can only hope that this trend is not possible to maintain that many closed mines in China were reopened. "Arun Jagatramka, chairman, Gujarat NRE Coke, one of the largest cocaine producer in the country, told DNA Money," for the first time China has become a net importer, which has a global impact at the prevailing short supply of good quality hard coking coal, causing the effect of international price increases. "
Jagatramka said there are two reasons for the purchase of China. The first is the mine disaster in a row that has happened in the past recently, which has stopped production.
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