The coking coal prices in the Russian domestic market rose after the world prices. The cost of this type of fuel increased by 30% in the Russian Federation, while the growth at the global level was about 40%, informs RIA News.
The increase in coking coal prices in the domestic market of the Russian Federation is caused by various factors. One of the most important is the increase in the price of ore, the most important source for rolled metal products, by a third. At the same time, there is no shortage of coal in Russia, the Russian Federation with about 162 billion tons in terms of reserves currently ranks second in the world.
“Domestic coking coal prices are increasing after global prices. The price of the key ore for rolled metal rose by a third <….> The material states that the real growth (prices of such coal – socialbites.ca) is at the level of 30%.
Another reason for the increase in the cost of energy resources is the lack of suitable infrastructure for its transportation. Due to international sanctions, a significant part of the demand has shifted to the Far East, which has led to an overload on the transportation route. The note states that due to the rising prices of coking coal in the Russian market, the Federal Antimonopoly Service (FAS) and the Prosecutor General’s Office (PGO) promised to “monitor the situation”.
May 18, on the website of the Japanese Ministry of Finance (MoF) published Accordingly, following the April results of this year, the Asian country reduced its Russian coal imports by 80.8% year-on-year. In addition, Japan reduced its liquefied natural gas (LNG) imports from the Russian Federation by 10.6%.