Asian countries including India, China and Japan agreed to introduce “structural amendments” into price forming method for raw materials. From now the coal price will be determined on quarterly basis, not annual as before.
BHP Billiton does not disclose details of agreement with European and Asian consumers.
However, on March 5, 2010 JFE Steel reported it has agreed to purchase coal by $ 200/t from April to June 2010.
Thus, price growth for the next quarter will make 55% from benchmark of $ 129/t of 2009/10 financial year.
Tuesday, March 9, 2010
Raw materials
Source:
ugmk.info
