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Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS


BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-making raw material from Japan's Nippon Steel, analysts said.

The deal signals a potential deep price cut in the other steelmaking ingredient -- iron ore -- and helped boost shares of steelmakers, as many firms struggling with falling demand and squeezed margins would be able to slash production costs.

BMA has agreed on a price of between $115 and $125 a tonne for fiscal year 2009/10, a reduction of between 58 and 62 percent from the previous year's $300 a tonne, Citigroup said in a research report.

The price deal, the first between the Australian miner and a key Japanese steelmaking customer, could set a benchmark for other negotiations for contracts for 2009/2010 starting April 1. To read more click
Reuters



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Recent News

Monday, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...


Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...


Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...


Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...


Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...


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