Russian coking coal producers may raise domestic prices by $10 a metric ton, or 8 percent, after April 1, UralSib Financial Corp. said.
The increase “is easily achievable by domestic miners,” with another rise possible in July, UralSib analysts led by Michael Kavanagh in Moscow wrote in a report today. The price was $120 in the first quarter, UralSib added.
“Should Chinese customers continue to buy at $220 to $240 a ton and third-quarter contracts are set at a premium to the current ones, we may see another $10 to $15 a ton increase in the domestic coking-coal price in July,” they wrote.
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