nergy Resources LLC, an indirect wholly-owned subsidiary of Mongolian Mining Corporation, adjusted down its starting prices by 50 yuan/t for the scheduled online auctions of washed hard coking coal from January 22, showed data from the Mongolian Stock Exchange.
The company has so far scheduled eight online auctions for Mongolian 3# washed hard coking coal (S 0.85%, A 11%, VM 28%, GRI 75) over January 22-February 2, with the starting price set at 1,250 yuan/t, down from the previous 1,300 yuan/t, MSE data showed.
This marked the second downward adjustment since the start of January, when the company lowered its initial bid for 3# washed hard coking coal by 30 yuan/t from 1,330 yuan/t which it kept for nearly three months.