The collapse of coal prices in Europe has hit the Russian companies


www.vsyako.netPhoto: Alexander Kryazhev / RIA Novosti

Coal mining in the Kuzbass region decreased by seven percent during the first half of 2019 due to the fall in prices in Europe, reports TASS.

Coal enterprises of Kuzbass produce 60 percent of all Russian coal. The most significant decrease occurred in June production fell by almost 20 percent.

According to sources owned by Grigory Berezkin Agency RBC, the Russian coal companies suffer losses in the West due to the fall of prices in Europe, and ship all the coal to the East they interfere with the ongoing Railways repairs.

To put the main part of the coal in the East is possible only by agreement with the company, while others are forced to either a loss of supply to Europe, or to reduce production.

Earlier it was reported that coal prices, which Russia exports to the EU, fell in Europe, almost twice, down to the lowest values in 2016. Against this background, the Russian producers are trying to redirect the goods to the Asian market.

Video, photo All from Russia.


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