Construction work is tentatively due to start on a dual-gauge rail line between China and the Republic of Mongolia. Reports indicate that the rail line will increase coking coal transport by up to 30%. Current estimates say the project will begin in April, with completion scheduled for 2028. Avoid reactive purchasing metal in uncertain demand […]
Tag: Coking Coal
Coking Coal’s Rollercoaster Ride: What 2024 Taught Us About Steelmaking’s Essential Ingredient
The story of coking coal in 2024, especially its price in global markets, has mainly been “one step forward and one step back.” A raw material essential for steel production, coking coal prices have been under pressure in the last half of 2024 due to sluggish growth in global steel output. Like other raw materials, […]
AngloAmerican Announces Divestment of Coal, Platinum, Nickel, and Diamonds to Focus on Core Businesses
AngloAmerican plans to divest several assets under its plans to simplify its portfolio, including coking coal. The move follows the company’s 2023 asset review, but also serves to rebuff a takeover takeover bid from Australia’s BHP. “Each asset was assessed for competitiveness and performance optimization potential and for its role in the portfolio,” AngloAmerican said […]
ArcelorMittal Completes Sale of Kazakh Operations Following Coking Coal Mine Blast
ArcelorMittal recently completed the sale of its steel making and mining operations in Kazakhstan. This move came after the Central Asian state’s government demanded its renationalization due to an October blast at a coking coal mine. On December 8, the Luxembourg-headquartered group reported that the state-controlled direct investment fund Qazaqstan Investment Corporation (QIC) acquired ArcelorMittal […]
India’s Steel Industry Braces Itself: Coking Coal Crisis Sparks Controversial Price Hikes
India has almost replaced China as the most important coking coal export destination for the near future. This comes after a significant increase in steel demand in the subcontinent. The expected resurgence in China’s economy, mainly due to the government’s efforts to kick-start sectors like construction, has not materialized. In response, sector experts are beginning to […]
Glencore’s Bid for Teck Resources Sparks Environmental Concerns
Glencore continues to express interest in a tie-up with base metals producer Teck Resources. Recently, the multinational commodity trader and mining company proposed steps to address the Canadian firm’s concerns over carbon exposure as a result of any merger. The main source of contention for the deal is Teck’s coking coal operation. “Glencore is fully […]
Chinese Exports into Australia Suddenly Shoot Up
March proved a good month for Australia and China. New data shows Australia’s exports to China touched a new high in that month. Though the export surge affected most commodities, the most prominent were coal and iron ore. Political and economic observers studying the relationship between the two nations interpret this as new signs of […]
Is India the “Winner” in Russia’s War on Ukraine?
As the old saying goes, “one man’s crisis is another’s opportunity.” Russia’s invasion of Ukraine and the subsequent sanctions and ruined trade relationships with the U.S. and Europe represents a tremendous crisis. But for the country’s long-term ally, India – and to an extent, China – it represents opportunity. From cheap Russian oil and coking […]
Chinese Steel Production Firm Baowu Pursues Rio Tinto’s Iron Ore
New developments continue to signal coming improvements in Chinese steel production. Among these is a forecast of prospects for the country’s vehicle sector and shipyards. This would ultimately thaw out the Sino-Australian relationship. One of the world’s biggest steelmakers, China’s Baowu Steel Group Corp., is keen to seek closer ties with Aussie iron ore miner […]
India Aims to Increase Domestic Coking Coal Production Twofold by 2030
For now, trade relations between Australia and China are sketchy at best. Therefore, Australia has started looking for other markets to ship commodities like ore and coking coke, one such market being India. However, over the past few months, the world has learned that many Indian steel mills have replaced “costlier” Australian coking coal with […]