BHP Takes Big Cut In Japan Coal Price
HARD on the heels of steep declines in iron ore prices, BHP Billiton has been hit by steep falls in the price of coal sold into the Japanese market.
The latest blow comes amid weak demand in the all-important Chinese market.
BHP this week entered into contractual sales of good-quality coking coal at $US170 a tonne for the December quarter in Japan, down 25 per cent, while it has reportedly agreed on spot export coal shipments at less than $US150 a tonne.
