NWR raises coking coal and coke prices for Q2 due to strong demand

On April 11, Central Europe's leading coking coal and coke producer, Czech-based New World Resources N.V. (NWR), announced coking coal and coke price increases for the second quarter of 2011.
 
NWR's average agreed price of coking coal for delivery in Q2 2011 is €215/mt, an increase of 35 percent compared to the Q1 realized price and 52 percent higher than the FY 2010 average realized price. The above price average is based on the expectation that coking coal sales for Q2 2011 will be evenly split between semi-soft coking coal and hard coking coal.
 
The company said that, starting from April this year, 100 percent of its coking coal sales will be priced on a quarterly basis, in order to allow it to further align its coking coal pricing with that of the international coal markets.
 
NWR's average price agreed for coke sales during Q2 2011 is €400/mt, an increase of 19 percent compared to the Q1 realized price and 45 percent higher than the FY 2010 average realized price. The above price average is based on the expectation that coke sales in Q2 2011 will consist of approximately 19 percent blast furnace coke, 67 percent foundry coke and 14 percent of other coke types.
 
Meanwhile, NWR's average price agreed for thermal coal sales for 2011 is unchanged at €71/mt, 13 percent higher than the 2010 average realized price.
 
All of the announced prices are based on the Czech koruna/euro exchange rate of 24.30, the company pointed out.