BHP Requests 10% Coal Price Hike

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Thu, May 27, 2010

Coal Market News
Post by Mike Rodger, Coal Reporter

Sumitomo Metal Industries, Japan’s third-biggest steelmaker said that BHP Billiton Ltd (BHP:ASX) has requested for more than 10% rise in the price of coking coal for the July-September quarter.

Takeshi Osawa, senior fund manager at Norinchukin Zenkyoren Asset Management is quoted saying:

“The rebounds of stocks are weak, meaning the news of the price hikes had a neutral impact and we haven’t yet run out of bad news.”

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