Japanese steelmaker JFE Holdings Inc, the world's sixth-biggest manufacturer of steel, has agreed to pay $200 a tonne to BHP Billiton for its coking coal in the April-June quarter. The new price represents a 55 per cent increase over the 2009/10 benchmark price.
A spokesman for the company suggested that despite agreeing a deal covering just one three-month period, it doesn’t mean the firm has accepted a quarterly pricing system.
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