chinas top coking coal firm to raise prices

China's top coking coal firm to raise prices
Reuters - 1 hour 1 minute agoSHANGHAI, Aug 13 - Xishan Coal and Electricity Power <000983.SZ>, China's top coking coal producer, said it had raised prices for washed coking coal and fat coal by 300 yuan per tonne from August 1.


Xishan Coal also raised the price for washed lean coal by 200 yuan per tonne from August 1, it said in a filing at the Shenzhen Stock Exchange dated Aug 12.

It did not disclose the current prices.

The Shanghai Securities News reported on Wednesday that before the hike, the price of fat coal was 1,480 yuan a tonne, and that of washed lean coal 1,100 yuan a tonne.

Supply of coking coal, mainly used in steel making, has been tight this year, as more than half of the country's coking coal resources is controlled by small mines, many of which have been shut down by the government due to safety concerns.

Provincial coking industry associations in Shanxi and Shandong, the top and number three coke producing provinces, have called on coking plants to restrict production, as easing demand from the steel industry and rising coking coal prices squeeze profit margin, the Shanghai Securities News reported.