Bloomberg reported that Russian exports of steelmaking coal declined by 21% YoY in 2011 to 14.2 million tonnes because of lower demand from China and periodic halts at some Siberian mines.

The Economy Ministry in Moscow said that China decreased purchases of Russian coking coal 41% from the previous year to 1.5 million tonnes. Ukraine accounted for 40% of exports, while Switzerland, where Russian producers have trading divisions, represented 15%.

The ministry said that export prices advanced 46% YoY to USD 174 a tonne.

Production of steelmaking coal in Russia fell by 3% YoY in 2011 to 64.7 million tonnes, while domestic demand added 5% to 52 million tonnes. The industrial safety regulator temporarily halted mines run by OAO Raspadskaya and OAO Mechel during the past year, damping output.

The data showed that Russia imported almost 1.5 million tonnes of coal from the US.

(Sourced from www.bloomberg.net)