Raspadskaya Coal Company (Raspadskaya), the second largest coking coal producer in Russia and a subsidiary of domestic steelmaker Evraz Group, has announced that it has agreed with proposals of Russian customers to temporarily determine coal concentrate supply contracts on a monthly basis due to the uncertain demand in the steel and coke markets, and has decided to maintain its prices for July 2010 at Q2 2010 levels, i.e., at Ruble 3,800/mt (about $123/mt) on FCA Mezhdurechensk basis.
As SteelOrbis previously reported, on May 19 Raspadskaya announced a situation of force majeure to its counterparties, stating that its coking coal concentrate sales would decrease following the accident at its Raspadskaya mine on the night of May 8-9.
In June 2010, Raspadskaya delivered its coal production to eight Russian customers, including major domestic metallurgical companies MMK, NLMK and Evraz Group.