BHP Billiton Ltd., the world’s largest mining company, is to hold talks with Japanese steel mills next week on proposed quarterly pricing contracts for coking coal, according to investment bank UBS AG said.
Analysts led by Tom Price said in a note today that talks will be held through the BHP Billiton Mitsubishi Alliance.
BHP told Japanese steelmakers last month that it wants to set coking coal prices on a quarterly basis rather than annually.
“We expect BHP to secure some quarterly contracts this year at close to spot,” Price said. Contract prices are $129 a ton for the year ending March 31.
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