Mozambique Mining: Jindal Africa disobeys court order on coal terminal closure

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Jindal Coal Operation in Tete – Mozambique

Radio Mozambique has reported that Indian company Jindal Africa has failed to comply with a court order ordering it to stop coal stockpiling activities at its Chirodzi mine, in the Moatize district of Mozambique’s Tete province. The order was issued by the Tete provincial court.

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Global Mining: Coking coal price slides to 8-month low, Mozambique to benefit

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Moatize Coal Mine, Vale Mozambique SA

The price of coking coal dropped on Monday with the industry benchmark price tracked by the Steel Index down 1.1% to $146.20 a tonne as supply returns to normal levels following tropical storms in Australia in March. Continue reading

Global Markets: Coking coal price soars past $300

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Vale train hauling coal 

The market for coking coal took another leap on Monday with the steelmaking raw material surging more than 6% to $300.30 (Australia free-on-board premium hard coking coal tracked by the Steel Index), a 19-week high. Continue reading

Global Coal Market: Coking coal prices go gangbusters — up almost 150%

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Moatize Vale coal Mine, Tete – Mozambique

Prices of coking coal, the steel-making kind, keep soaring mainly due to slowing supply growth from China. Far seems to be the multi-year lows struck in February, as the commodity has surged almost 150% since then, adding Tuesday a whooping $14.80 per tonne, according to The Steel Index. Continue reading

Coal Markets: India demand for coking coal to rocket

The World Coal Association said: “Global steel production is dependent on coal. 70% of the steel produced today uses coal. Metallurgical coal – or coking coal – is a vital ingredient in the steel making process.

The World Coal Association said: “Global steel production is dependent on coal. 70% of the steel produced today uses coal. Metallurgical coal – or coking coal – is a vital ingredient in the steel making process.

BHP Billiton has predicted a booming market for its Australian metallurgical coal operations as India begins to suck in imports for its fast-growing steel industry. Continue reading

Markets: Coking coal prices to remain lacklustre on inadequate supply cuts

Some producers were increasing output at lower-cost operations to keep overall costs down

Some producers were increasing output at lower-cost operations to keep overall costs down

Seaborne metallurgical coal prices were expected to remain under pressure in the near term as the effects of production cuts announced earlier this year have yet to be felt, market insiders said this week. “It’s bearish sentiment all round,” a producer source told Steel First on the sidelines of an industry conference in Berlin, Germany, on November 17-19. Continue reading

SteelFirst: China’s coking coal imports to halve by 2020, CLSA says

Coal Mining

Coal Mining

Chinese imports of coking coal are forecast to decline to just 30 million tpy by 2020 from 60-70 million tpy now, according to equity broker CLSA. This is due to the broker’s expectation that the country’s steel consumption will peak before the end of this decade as urbanisation slows, and infrastructure and construction demand start to decline. In addition, ex-China demand will draw supply away from the world’s second-largest economy, CLSA said in a recent research note. Continue reading