According to Japan's Nikkei news reported, BHP Billiton Ltd. has requested Japan's steel mills, such as Nippon Steel Corp., Sumitomo Metal Industries Ltd., and Kobe Steel Ltd. to purchase coking coal by spot market price base. It’s said that BHP may take same approach toward mills in South Korea and India. However, the report said that no China’s mill is required to do so.

BHP Billiton Ltd. said that the new pricing system will start from April 1st, 2010, and it means that annual price talk probably will come to an end.

Source: yieh.com