Coking Coal Index : BHP Push Coking Coal Set Pricing
March 14th, 2010 | File Under : Coal - Steel - Trade & Market
PLATTS has launched the world’s first daily coking coal index as it looks to exploit a push by BHP Billiton to abandon annually set pricing.
BHP Billiton attempt to move to quarterly or index-based pricing has been quicker than most expected, sparking a number of data providers to look at starting up spot price indexes for coking coal, which is used in steelmaking.
As well as Platts, US-based Energy Publishing has started up a weekly coking coal index for exports out of Queensland, while Britain’s Argus Media is also preparing an index.
America West Resources, Inc., a domestic compliant coal producer with mining operations in Central Utah, today announced that the Company has received a spot price coal contract, valued at approximately $1 million, from a co-generation power plant based in the western U.S.