Coal news and updates

Coking coal miners practically stop offers till July

April 22: A sharp decline in coking coal prices in recent days has prompted leading miners to stop offering, at least for the time being, till there is improvement in prices, a trader said.

"Leading miners are not directly saying they will not sell the material at the current low prices, but they are indicating they do not have material till July, ie, they can offer only after July," the trader said.

"I recently entered into contracts with some miners, but they will offer the material only after July. On asking where the material has gone, especially when Chinese and European companies are not exactly buying, one of them admitted he did not want to sell at current levels," the trader added.

"If the material is not available, there will automatically be firmness in prices and once that happens, the miners will again start offering the material," the trader feels.