Coking Coal Trends

摘要

Anglo edged out BHP Billiton and was the first to settle a second quarter benchmark contract price with Japanese steel mills. Anglo settled with Nippon Steel and JFE for US$330.00/tonne FOB. The Japanese steel mills are resisting BHP Billiton's proposal to sell a portion of its volume under a new monthly pricing system. Under the monthly system, BHP Billiton would price coal on an individual cargo basis, which sounds similar to traditional spot pricing in the thermal coal market. Spot cargoes of Australian coal are reportedly commanding more than US$350.00/tonne FOB.