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Severstal Says Coal Prices to Decline to $120-$150/Ton

06.12.2016

Bloomberg

By Yuliya Fedorinova

Current coking coal price isn’t sustainable and will decline to $120-$150/ton in about a year or year and a half, Severstal’s Head of Corporate Strategy Andrey Laptev, said in interview at Sberbank CIB mining conference in Moscow.

* In first half of 2017, prices may remain high
* Iron ore prices expected to fall as well
* If coal, iron ore remain at current levels, steel price may rise slightly next year
* Russian steel market will return to growth in 2017, first time in 3 years; may rise 1.5%-2% on demand from automotive industry, construction
* Global steel demand to keep recovering next year, rising by 0.5%