BHP Billiton, the world’s top mining company is seeking monthly pricing system for steelmaking coal with major Japanese mills from April, Reuters reported.
Analyst said that the coking coal pricing system would likely squeeze steelmakers, which had been forced to small profit margins since quarterly pricing for major inputs of iron ore and coal in April , 2010.
It’s pointed out that the only thing mills can do is to increase their self-sufficiency for raw material to over 50%, according to market watcher.
News Date 2/18/2011 2:07:03 PM reported by Brian Lu
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It is a bit of juggling game in the coal industry and coal prices from underground mines to ensure enough electricity and steel capacity worldwide while making sure the impact on the environment and people is minimal. www.coalportal.com
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