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BMA’s March settlement levels are $4 lower than its February settlements for premium hard coking coal, which concluded at $135-139 per tonne, sources told Steel First on Tuesday February 11.
The settlements were down by $5 per tonne from levels of $140-143 per tonne for January contracts.
Premium BMA low-volatility hard coking coal brands Peak Downs and Saraji settled at the top of the range, with lower-grade premium hard coking coal brand Goonyella settling at $132 per tonne, according to consumer and trader sources.
Sources told Steel First that BMA settlements with Indian customers for Goonyella coal were at a $1-2 discount from levels sold to European customers.
Settlements between BMA and Japanese customers have not yet concluded, Steel First understands. BMA has offered levels of $136 for Peak Downs and Saraji material; Japanese mills have bid at $135 per tonne, sources said.
Anglo-American settled the first-quarter 2014 benchmark with Japanese steel mills in early December at $143 per tonne fob Australia for premium hard coking coal German Creek material.
BHP Billiton said that it would not comment on price negotiations.
Steel First’s index for premium hard coking coal fob Australian port DBCT was calculated at $128.33 per tonne on February 11.
Australian coking coal producer BHP Billiton Mitsubishi Alliance (BMA) has settled March premium hard coking coal contract prices with European and Indian customers at $131-135 per tonne fob Queensland.