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March 2013 | Steel Raw Materials


Second-quarter coking coal contract prices settle higher: Coke and Coking Coal Highlights


Coking coal contracts for the second calendar quarter settled higher than first-quarter prices.

As expected, coking coal contracts for the second calendar quarter of 2013 settled higher than first-quarter prices. The benchmark price was settled by BHP Billiton Mitsubishi Alliance (BMA) and Nippon Steel and Sumitomo at $172/tonne FOB for Peak Downs and Saraji premium hard coking coal. Other hard coking coals will follow that benchmark, adjusting price for quality. Goonyella coal was then settled for $169/tonne FOB. This is up from $169/tonne FOB for Peak Downs and Saraji coal, and $161/tonne FOB for Goonyella coking coal settled in the first quarter.

PCI coal contract prices for next quarter increased at a higher rate than hard coking coal prices. Peabody Energy and POSCO agreed to the benchmark level of $141/tonne FOB for Coppabella coal from Australia, up $17/tonne from the prevailing quarter. These price settlements represent a turnaround from the previous two quarters of declining contract prices....

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