OREANDA-NEWS The profitability of Russian coking coal supplies for export, after rising in early March, fell by seven to ten percent in the middle of the month, and in all directions. This is reported by Kommersant with reference to data from NEFT Research.

In such circumstances, some Russian companies have stopped shipments to China because they are causing them losses. The reason for the decline in income from commodities was both the correction of world quotations and the strengthening of the ruble to multi-month highs.

Prices fell by 6.6-11.1 percent in the eastern direction and by 1.1—3.6 percent in the western direction, which is supported by subsidies. Analysts currently do not see any fundamental factors that could change the situation.

After the Chinese New Year, the supply of imported coking coal to the country has not increased, as steel producers face falling demand and domestic production is growing. India cannot compensate for the reduction in supplies, it actively imports rolled steel, which reduces the need to increase its own production and, consequently, coking coal.