For those steelmakers not watching their energy prices, here is a quick reminder of the changes in recent months.
Looking at steam coal prices [and we use the Australian Port Kembla f.o.b. thermal coal cost benchmark] these costs have risen from ~$72/tonne last summer to $193/t today, which is a 168% rise.
Looking at gas prices [and we use Russian natural gas as our cost benchmark, based on the German border price] these costs have risen from $280 per 1000 m3 last summer to $517 per 1000 m3 today, which is an 85% cost increase.
For regular monthly updates on these prices, visit www.steelonthenet.com/commodity_prices.html
Labels: costs, energy, prices, steelmaking