Coal India Considering Raising Met Coal Prices, Official Says
- Price increase mulled after Australian met coal prices rose
- A decision on price increase expected in a month: official
Loaders fill railcar wagons with coal at a depot, operated by Coal India Ltd. subsidiary Bharat Coking Coal Ltd in Jharia, Jharkhand, India.
Photographer: Sanjit Das/BloombergThe world’s biggest coal miner is considering raising metallurgical coal prices for the second time this year, a company official said, reflecting Coal India Ltd.’s efforts to shore up revenue amid rising costs.
Coking coal producing units Bharat Coking Coal Ltd. and Central Coalfields Ltd. plan to submit the proposal to their boards in a month, the official said, asking not be identified, citing internal policy. The proposal follows a jump in Australian benchmark prices, he said. Australian hard coking coal averaged $192 per ton in the three months ended June, gaining 14 percent from the preceding quarter.