By Mario Parker - Feb 18, 2011 9:49 PM GMT+0530
Metallurgical coal prices on the U.S. spot market increased ahead of final negotiations for the quarterly benchmark contract, Energy Publishing Inc. said.
Spot prices for low-volatility coking coal gained $1.25, or 0.4 percent, to $321.25 a ton in the week ended today, according to the Knoxville, Tennessee-based data provider. High-volatility coal was unchanged at $287.50.
Energy Publishing said buyers and sellers of metallurgical coal are anticipating that the benchmark contract between the BHP Billiton-Mitsubishi Alliance and Japanese steelmakers will be announced by March 2.
“U.S. producers continue to be in a bit of a holding pattern as they await news of the quarterly settlement,” Energy Publishing said.
Energy Publishing says it surveys buyers and sellers of coal to determine pricing.
(sourced:bloomberg)
Tags:BHP Billiton-Mitsubishi Alliance, Japanease steelmakers, Energy Industry,
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