Free Trial

Russian Coal Selling at 50-60% Discounts

COAL

Russian coal exporters are being forced to offer 50-60% discounts versus global benchmarks because of sanctions according to First Deputy Prime Minister Andrei Belousov.

  • "Thanks to inexpensive energy resources [in Russia], we have been particularly able to weather the current crises rather calmly. We have discounts of 50%-60% on coal, meaning a downward deviation on our contract prices that coal miners conclude. They are forced to sell coal about 50% cheaper than market prices, which is nothing, as it turns out that this is profitable and quite acceptable," Belousov said.
  • "The same applies to mineral fertilizers, and there are known discounts for oil that have reached $20-$30 per barrel, and so on," he added.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.