The recent slump in steel demand and cuts in production are likely to halve the price of steel-making coking coal next year, an investment bank research note said on Tuesday.
Citigroup Global Markets also said if the global financial crisis continued to curtail steel demand, annual contract price negotiations would be delayed and there could be [...]
Shanxi Xishan Coal and Electricity Power Co Ltd announced on Tuesday it has secured approval from board of directors to issue up to 3 billion yuan worth of bonds.
The company said in a statement filed with the Shenzhen Stock Exchange that the bonds will consist of 1.5 billion yuan worth of five-year bonds and 1.5 [...]
U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in China Shenhua Energy Co Ltd<601088><1088> to 10.08% from 9.97% on Nov. 25, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<388>.
HKEx said in a statement that JPMorgan Chase has acquired 3.82 million H-shares in China Shenhua for HK$47 million. The [...]
Shantou Electric Power Development Co<000534> said in a statement on Tuesday that one of its thermal power plants has been forced to halt power generation since early November as coal suppliers failed to fully make contracted deliveries earlier this year, sources reported.
The plant’s two coal suppliers only delivered part of the contracted amounts, after spot [...]
Thermal coal prices at Australia’s Newcastle port, a benchmark for Asia, slumped 8.7 percent last week to a 13-month low amid rising stockpiles of the fuel in China and a drop in electricity demand.
The weekly index for thermal coal prices at the New South Wales port fell $7.50 to $78.19 a metric ton in the [...]
Mining giants BHP Billiton Ltd. and Rio Tinto Group may have to cut contract prices by a third next year because of slumping demand from steelmakers, according to a survey of analysts.
Prices may drop to $200 a metric ton in the year starting April 1, from $300 a ton this year, according to the median [...]
