14 Jul 2009 17:21

Russia's Raspadskaya reduces coal production 4% to 4.17 mln tonnes in H1

MOSCOW. July 14 (Interfax) - Raspadskaya , one of Russia's biggest coking coal producers, reduced coal production 4% to 4.17 million tonnes in the first half of 2009 compared to the second half of 2008, the company said in a statement.

Coal production fell 18% in January-June 2009 compared to the first half of last year.

Coal concentrate sales totaled 1.685 million tonnes in the second quarter of 2009, up 30% from the first quarter and about 80% of the pre-crisis levels.

The company sold a total of 2.986 million tonnes of products in the first half of 2009, down 26% from the same period of 2008. Raspadskaya supplied the domestic market with 2 million tonnes and exported 979,000 tonnes. Export sales grew 160% in the half compared to the second half of last year.

The average concentrate price fell 7% to 1,487 rubles in the second quarter of 2009 compared to the first quarter.

Exports account for about 40% of total sales. Raspadskaya has begun fulfilling orders for Japan's JFE Holding and South Korea's Posco, started the process of signing contracts via international trading companies for the Chinese market, the statement says.

Raspadskaya reduced coal production 31% to 9.4 million tonnes in 2008. Coal concentrate sales declined 20% to 7.03 million tonnes, while coal sales plunged 87% to 243,000 tonnes.