China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (3780)	11/25/2004 10:30:54 PM
From: RealMuLan	Read Replies (1) of 6370

Arcelor's Dolle Says Coal Prices to Rise Up to 80% Next Year Nov. 26 (Bloomberg) -- Arcelor SA, the world's biggest steelmaker, may pay as much as 80 percent more for coal next year, Chief Executive Guy Dolle said, as mining companies boost prices that are already at records. Prices for coal used in steelmaking may increase by between 60 percent and 80 percent, Dolle said in a Nov. 23 interview in Luxembourg. That equals a rise of at least $35 a ton. Arcelor buys about 13 million tons of coking coal a year from producers such as BHP Billiton, most of it at fixed annual prices. ``Coking coal will be the major problem for next year,'' the 62-year-old chief executive said. ``We will pay on average a little bit more than $100'' a ton. Coking-coal prices have surged because of rising steel production led by China, which added output equal to the whole of South American supply in the first 10 months. Coal suppliers, including London-based Anglo American Plc and Zug, Switzerland- based Xstrata Plc, have struggled to keep up. bloomberg.com

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