Russian coking coal market trends
Russian coking coal concentrate consumption edged down by 1% to 38.3 million tonnes in 2016, compared with 38.8 million tonnes in 2015, due to the planned blast furnace overhauls at some steel plants. Export shipments rose by 15% to 20.8 million tonnes in 2016, up from 18.1 million tonnes in 2015, due to increased demand from Ukraine, Japan and South Korea.
Local coking coal prices improved in 2016, driven by global benchmark trends. Premium coking coal (Zh grade) averaged US$91 per tonne FCA Kuzbass, up by 9% from US$84 per tonne in 2015. Semi-soft coking coal (GZh grade) averaged US$69 per tonne, up by 18% year-on-year.