Coking coal prices may drop

By Staff -- Purchasing, 1/18/2007 7:00:00 AM

Prices for coking coal, which is used to make steel, may drop as much as 13% by April. Charles Goodyear, CEO of BHP Billiton, said the coking coal market is softer than the past year, because “the available supply in China probably developed faster than expected.” As a result, BHP may be forced to accept prices of up to 13% lower for coking coal going forward as more supply comes online and demand slows. Coking coal prices jumped to $125/ton in 2006, compared with $57.50/ton in 2005, according to Goldman Sachs JBWere.

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