Ras Al Khaimah Cement buys S.Africa coal cargo at $150/t

Ras Al Khaimah Cement buys S.Africa coal cargo at $150/t
Published: 03 April 2008

UAE cement maker Ras al Khaimah Cement Co has bought a prompt cargo of South African coal from traders Glencore at around $150.00 a tonne CIF, traders said.  
 
Ras al Khaimah Cement is one of several Gulf cement makers which have been in the market recently for South African coal used as a fuel and raw material in cement manufacture.  
 
Coal has become cheaper than oil or gas for Gulf cement makers.  
 
The cargo was sold on a delivered-to-plant basis at around $155.00 a tonne, traders said, but works out to about $150.00 CIF, they said. (Reporting by Jackie Cowhig)