Coking coal deal puts pressure on steel prices

Dec 13, 2004 | 11:25 AM |

The settlement reached Friday between Japanese steelmakers and the BHP Billiton Mitsubishi Alliance (BMA) for fiscal 2005 shipments of hard coking coal at a record price of around $125 per tonne f.o.b. is expected to drive steel price increases by mills.

The price of coking coal for 2005 is more than double the price the Japanese integrated mills are paying currently for quality metallurgical coal and indicates that prices of semi-soft and low-volatile coal used in pulverized coal injection systems will jump by a similar margin.....

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