Top global coking coal exporter BHP Billiton declined on Thursday to comment on a report that it has agreed to a 24% cut in coking coal prices to Japanese steelmakers for October to December.
The reported 24% cut matches the steep fall in spot coking coal prices, which have slumped to around $165 a tonne for the key steel-making fuel, amid an unexpected slowdown in demand from China and weaker steel output around the region.
Japan's Nikkei reported on Wednesday that Japanese steelmakers and BHP had agreed to set prices at $170 a ton for the December quarter, which the newspaper said was the lowest level since the quarterly pricing system was adopted two years ago.
BHP said it never comments on what it called price speculation.
Source: Reuters
