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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2009 | Steel Raw Materials


Worst may be over, but poor sentiment remains: Coke and Coking Coal Highlights


MBR has learned that the supply of Shanxi coking coal is beginning to tighten and steel mills are urging coal producers to make deliveries.

While Asian steelmakers have settled coking coal, and now, iron ore contracts, European mills are left on the sidelines, as most remain uncertain of the timing and degree of the expected recovery in steel sales. Even with the settling of iron ore prices with Japanese steelmakers, it is unlikely to budge the European mills to settle coking coal contracts with US and Canadian suppliers until steel price movements through the end of the year become clearly defined.

Further tie ups between coking coal miners

Meanwhile, MBR hears of further mergers between miners in order to weather the weak market conditions. We are seeing coal miners which are predominately entrenched in the metallurgical coal markets move to diversify into the thermal coal market. Mergers such as these both provide a wider customer base as well as an inexpensive source of PCI-quality coal to offer in the product mix. Alpha Natural Resources...

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