It is reported that Australia’s BHP Billiton has entered into a re-negotiation agreement in response to a 50 percent price drop on the long term coking coal contract with the Steel Authority of India Ltd. (SAIL).
The price of coking coal will drop to US$150/ton from US$300/ton.
The long term contract will last till this June. The new prices in the next round will be based on the negotiation between BHB and Japan’s steelmakers. It is expected that the new price will be lower than the current level. Source: Yieh.com
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Sunday, February 22, 2009
11:17 |
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