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Shanxi Coking Coal cuts May prices by 40 yuan/t

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Publish time: 12th May, 2015      Source: www.cnchemicals.com
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Shanxi Coking coal group Co., Ltd, China’s largest metallurgical coal producer, has cut prices by around 40 yuan/t from April for some steel mills, a slower pace compared with April’s cut, sources said.The group has cut prices of its premium coals by a total of 100-120 yuan/t since April.Besides, the group continued setting prices separately with each end user at varied extents of discounts, and offering extra discounts for large volume buyers.However, some buyers didn’t adjust down purchase prices for coking coal from Shanxi’s local mines, as their stocks were low.Buyers said the price may be reduced by only 10-20 yuan/t generally in the short run, as many miners are suffering losses and can’t stand more price reduction.One buyer said many local private mines and washing plants have closed or suspended production and most state-owned producers are running in red.One source said the ex-washplant price of primary coking coal in Jinzhong with 1.6% sulphur was 500 yuan/t with VAT and the price of fat coal with 1.8% sulphur was 490 yuan/t.The free-on-rail price of one Luliang-based producer’s primary coking coal with 2.5% sulphur was 440 yuan/t, and the producer has halted the production of coals with sulphur content of 1.8%.On May 8, The CCI Met Shanxi Premium Low Vol index assessed ex-washplant price of Liulin premium low-sulphur primary coking coal at 650 yuan/t with VAT, unchanged on day; while CCI Met Shanxi High-sulphur Low Vol index was at 485 yuan/t with VAT, down 5 yuan/t on day.Besides, one end user said the purchase price of gas coal from Jining, Shandong with 0.5-0.6% sulphur was 490 yuan/t. ''We are controlling stocks, which can cover 2-3 days averagely, and setting prices once a week with miners", he added.Yankuang Group, the leading producer in Shandong, may reduce its gas coal price by around 30 yuan/t in the short run.The CCI Met Shandong Semi-soft index assessed ex-washplant price of gas coal at 495 yuan/t with VAT on the same day, unchanged on day.Meanwhile, the CCI Met North China Fat coal index assessed the price of high-fluidity, mid-volatile coking coal at 745 yuan/t, DDP Tangshan, with VAT, down 5 yuan/t on day.