Coke price won't go up in H1 of 2009
It is reported that China has imported lots of budget coal resources from abroad, but on the other side its domestic coal market has been impacted badly as international coal price and freight both drop sharply. So far no recovery is seen in the steel and real estate markets. Mr Yang Deyu the general manager of Yanzhou Coal Mining Company said coke price is not likely to go up from the downtrend in H1 of the year.
China's has already been witnessing coal imports by vessels growing at an annual rate of 15.5%. Analysts say China's will continue to increase its overseas coal imports in spite of the fact that it has already imported much from Mongolia.
Mr Wangye a researcher from a security company holds similar opinion, saying coke price will continue to decline this year, but he thinks that it may stop declining and start to go up in Q4 of the year or in next Q1.
(Source : Mysteel.net)
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