Japanese steelmakers have declined the 55 percent coking coal price hike from BHP Billiton for April to June shipment.
BHP has offered the price with US$200/ton for the quarter, a big increase compared to the same period last year. However, the Japanese steelmakers think the price is too high and it will also evaluate the annual contract prices. BHP does not make an annual contract price yet.
Currently the spot coking coal price has been traded around US$ 230/ton. And some analysts expect that BHP is about to offer the price about US$240/ton.
(source: Yieh.com)