Mongolia's ETT price cuts fail to ease coking coal selling pressure

Mongolian state-owned coal giant Erdenes Tavan Tolgoi JSC (ETT) has lowered the call price for its key auctioned coking coal grade amid mounting market pressure, but the move failed to boost trading.

On September 18, the call price for Mongolian 5# raw primary coking coal was lowered to $181.5/t, according to data from the Mongolian Stock Exchange (MSE). Mysteel calculated that this translates to Yuan 1,467/t on an ex-stock, VAT-inclusive basis at the Ganqimaodu border crossing in North China. The price cut