BHP plans to hike coking coal prices by 8 pct - Nikkei

Friday, Dec 03, 2010
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Dec 3 (Reuters) - Anglo-Australian miner BHP Billiton (BHP.AX: Quote) (BLT.L: Quote) plans to increase price of coking coal for Japanese steelmakers by about 8 percent from the current quarter for the January-March period, the Nikkei business daily reported.


The paper said BHP plans to sell coking coal to Japanese steelmakers at $225 per ton, which also represents a 70 percent surge from fiscal 2009.


Some Japanese steelmakers are said to have agreed to prices in line with the global miner's demands, the Nikkei added.


Prices on high-quality, Australian coking coal rose for two consecutive quarters through the July-September period, climbing to $225, before declining to $209 in the current quarter through Dec. 31, the paper said. (Reporting by Gowri Jayakumar in Bangalore)

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