TOP TENWarning, this post may be irrelevant to some...
The World Top Ten Steel Producers ( some of whom may become users of New Elk Met Coal in due course ):
Company Baseed in Million Metric tons / Year
ArcelorMittal UK 104.0
Baosteel China 32.2
JFE Group Japan 31.5
Nippon Steel Japan 30.8
US Steel USA 28.6
AnBen Group China 27.6
Posco S.Korea 27.1
ThyssenKrupp Germany 20.8
Severstal Russia 18.7
TataCorus India 17.1
Total 338.4 Million Metric tons
Global steel production is on track to reach a record 1.5 Billiom metric tons in 2012. The top 10 companies can supply 22.5 % of that demand.
75 % of all steelmaking is BOF ( Basic Oxygen Furnace ) based requiring metcoal. In order to produce 1 metric ton of liquid steel requires - on average - 0.4 metric tons of coking coal. 1 metric ton of raw met coal yields approx 0.8 metric tons of coking coal, or to produce 1 metric ton of liquid steel you need 0.5 metric tons of raw met coal.
The 75 % BOF steel translates to 1.125 Billion metric tons of liquid steel and translates to a global demand of 562.5 million tons of metcoal.
Even if demand for steel would be reduced going forward, metcoal will remain in tight supply for the foreseeable future.
Patience People, Patience.
GLTA