Feb 26,2011 2:14 AM GMT+0530
By Mario Parker
Metallurgical coal prices on the U.S. spot market decreased on scarce trading prior to the settlement of negotiations on the quarterly benchmark contract, Energy Publishing Inc. said.
Spot prices for low-volatility coking coal slumped $12.92, or 4 percent, to $308.33 a ton in the week ended today, according to the Knoxville, Tennessee-based data provider. High- volatility coal dropped $27.50, or 9.6 percent, to $260.
“Spot activity remains sparse, but the terminals are bustling with export business booked earlier,” Energy Publishing said.
UBS AG said Feb. 21 that BHP Billiton Ltd., the world’s largest mining company, may offer discounted prices for its metallurgical coal to Japanese steelmakers as it seeks to transition to monthly contracts from quarterly.
Spot prices for low-volatility coking coal slumped $12.92, or 4 percent, to $308.33 a ton in the week ended today, according to the Knoxville, Tennessee-based data provider. High- volatility coal dropped $27.50, or 9.6 percent, to $260.
“Spot activity remains sparse, but the terminals are bustling with export business booked earlier,” Energy Publishing said.
UBS AG said Feb. 21 that BHP Billiton Ltd., the world’s largest mining company, may offer discounted prices for its metallurgical coal to Japanese steelmakers as it seeks to transition to monthly contracts from quarterly.
Energy Publishing says it surveys buyers and sellers of coal to determine pricing.
Tags: Energy Publishing Inc. Knoxville, Tennessee based data provider, quarterly benchmark contract, Japanese steelmakers, raw material,
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