Borneo expects lower coking coal price due to slow demand
Friday, May 13 2011 - 02:20 AM WIB
The official said that due to the higher price of coking coal, which now reached of around US$ 328-320 per tonne, most of its foreign buyers especially from China and India did not buy the coal from the company.
The company currently sold its coking coal price around $300 per tonne and it is expecting coking coal price in the market is around $240-250 per tonne to make buyer is willing to buy the coal again, the official said.
Due to the slowing demand, the company is also slowing down its coal production, the official said, adding that for January-March period, the company?s coking coal output only around 570,000 tonnes. The company is targeting to produce 3.6 million tonnes of coking coal of this year from its Central Kalimantan mine PT Asmin Koalindo Tuhup.
Despite lower coal production during the first quarter of this year, the company is still convincing to reach the company?s target for this year, the official added. (denny)