The market continues to be more buzz and chatter than action. But the buzz and chatter is pretty good. Word from the Norfolk Southern Forest, which hosted metallurgical coal buyers and sellers, is U.S. producers are "encouraged" about the look of 2009 negotiations. More and more, it appears there won't be a simple benchmark settlement to lead to additional, cookie-cutter deals. Contractual relationships are complicated, to say the least. Look for contracts to reflect different levels of commitment to 2008 carryover tons and to existing deals. But suppliers are going to do okay, it would seem.
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