OAO Raspadskaya, Russia’s second- largest producer of coal used for steelmaking, increased domestic prices 33 percent, according to Metal Expert.
The average price for coking coal concentrate rose 900 rubles ($30) a metric ton to 3,600 rubles on a so-called free carrier basis from February, the Dnepropetrovsk, Ukraine-based industry research group said in e-mailed report dated Jan. 29.
“We view the news as positive for domestic coking-coal producers, including OAO Mechel (MTLR), Raspadskaya, and OAO Belon,” Michael Kavanagh, an analyst at Uralsib Financial Corp. said in a report today. “It’s slightly negative for semi-vertically integrated steelmakers such as OAO Novolipetsk Steel and OAO Magnitogorsk Iron & Steel.”
Alexander Andreev, deputy chief executive officer at Raspadskaya, wasn’t immediately available for comment.
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