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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

Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year * Buyers expected to ask for a discount * Biggest losers may be Chinese coal suppli ...


Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...


Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...


Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...


Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...


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