Annual Coking Coal Price Rises Agreed

摘要

Following the agreement of rises of at least 65% for iron ore contract prices earlier this year, steelmakers are now faced with higher contract prices for coking coal. A massive 205-210% increase in the FY 2008 contract price has been reached between some steel mills and BHP Billiton Mitsubishi Alliance (BMA). Depending on product specification, this takes the contract price for major brands up to around $300/tonne, compared with around $98/t in the previous financial year. Severe tightness in supply earlier this year are reported to have pushed spot prices for coking coal above $350/t.