Russian coking coal producers are starting to raise the prices of their products as of October this year - representing their first first price increases since the start of the global economic crisis. The increase is seen as an indication that the difficult times for Russian coal miners are approaching their end, and that the coal sector, which was the first to feel the consequences of the financial crisis, is registering a progressive reanimation.
The Russian coal mining company Belon Group (Belon) is the first domestic company to announce an increase in its coking coal price, up almost 62 percent compared to the price level of the first half of the year. Accordingly, during the current week Belon has completed the signing of coking coal supply contracts for the next four months at a price level of Ruble 3,000-3,100/mt ($100-103/mt) FCA Kuzbass.
Meanwhile, in October, the other Russian mining companies will also increase their prices of coking coal by approximately 50-60 percent.