Turkey-based TTK’s coking coal output falls slightly in Q1

According to the data provided by the state-owned Turkey Coal Institution (TTK), in the first quarter of this year TTK's coking coal production fell by 1.2 percent or 1,245 mt compared to the same quarter of the previous year, to 104,318 mt. The institution's coking coal output value was TL 25.75 million ($14.4 million) in the first quarter, down 23.7 percent or TL 8 million ($4.5 million) compared to the first quarter of 2012. 84 percent of the total coking coal production of TTK was supplied to Turkey-based long steel producer Kardemir and 16 percent of the total was delivered to Turkey's largest steel producer Erdemir.
 
In the first quarter of this year, the average price of TTK's coking coal stood approximately at TL 247/mt ($138), falling TL 73/mt ($41/mt) compared to the average of TL 320/mt ($179/mt) recorded in the same quarter of 2012.
 
Regarding to 2012, TTK produced 416,418 mt of coking coal with a value of TL 118.8 million ($66.2 million). The 87 percent pf the total coking coal production was sold to Kardemir and the remaining 13 percent was destinated to Erdemir. In the whole of 2012, the average price for the institution's coking coal was TL 285/mt ($159/mt).