Miners, Coke Producers Agree On 8% Reduction Of Coal Prices.

Mining companies will decrease coking coal prices for domestic consumers starting on Feb, 1 for the next two months. Concorde Capital: This attempt to soften the effects of the recent gas price hike for steel smelters may cut into coal mine margins which already operate on the verge of profitability. The Coal Industry Trade Union has already demanded restrictions on imports of coking products from Russia to maintain industry competitiveness. We believe the state will support the coal industry with a significant investment program after they are privatized in 2006.