World prices for coking coals will reach a record low level already in the third quarter of this year

The world's largest exporter of metallurgical coals company BHP Billiton Ltd. (BHP) states that in the third quarter of 2013, the price of metallurgical coal will fall by a record low in connection with the weakening of demand from the Asian countries.

The predicted price is at the level of 165 dollars per ton of solid coking coal. BHP intends to make such proposals starting on July 1, 2013.

Recall that today the metallurgical brands of coal are traded at a fairly low level of $ 172 per ton, while the price of price was more than 11 percent compared to the price of the first quarter of this year.

A significantly growing proposal of coals from Mongolia and South Africa is superimposed on an excessive proposal from Australia. The slowdown in the Chinese economy complements the picture, causing an inevitable drop in prices, says the Japanese partner of BHP Mitsubishi Corporation.

The supply of metallurgical coal from Australia for March 2013 increased by 7.9 percent to 12 million 800 thousand tons, to the highest level this year and continue to increase. The National Bank of Australia drew up its own forecast of coal prices in the third quarter, according to which the price for it will not exceed $ 155 per ton.

The Goldman Sachs Group Inc gave a somewhat more optimistic forecast, according to its analysts, a decrease in coal prices will reach a bottom of $ 165 per ton.