BHP settles coking coal price for Japan

BHP settles coking coal price for Japan

According to Japanese and Australian media, Australian iron and coal producer BHP Billiton settled high quality hard coking coal contract prices for 2006 with its Japanese customers at $115/ton level indicating around 12 percent decrease. BHP's customers in the deal are JFE Steel and Sumitomo Metal Industries. Market analysts accept the agreement level as a strong one. Some analysts were claiming that any price over $100/ton would be accepted as a good one. The price of coking coal was around $80/ton in 2004 but increased up to $125/ton in 2005.