On January 28, Central Europe's leading coking coal and coke producer, Czech-based New World Resources N.V. (NWR), announced coking coal and coke price updates for the first quarter of 2011.
The company said that during 2010 it agreed to sell 80 percent of its coking coal volume on a Japanese Fiscal Year basis and the price for these sales ending March 31, 2011 remains unchanged at an average of €163/mt. Quarterly priced coking coal for delivery in the first calendar quarter of 2011 comprises mostly semi-soft coking coal. The average price agreed for these deliveries is €165/mt, seven percent higher than the average price announced for quarterly priced coking coal for the fourth quarter of 2010.
The average price agreed for coke sales during the first calendar quarter of 2011 is €339/mt, with an increase of one percent compared to the realized price in the fourth quarter of 2010 and 23 percent higher than the average realized price in 2010.
All of the announced prices are based on the Czech koruna/euro exchange rate of 24.30, the company pointed out.