Peabody and Nippon settle Q4 metallurgical coal contract price at $200/t- sources

Nippon Koshuha Steel Co

12/10/2016 04:41

SYDNEY, Oct 12 (Reuters) - Peabody Energy Corp  BTUUQ.PK  
and Nippon Steel  5401.T  have set the fourth quarter 
metallurgical coal contract benchmark at $200 a tonne, a 116 
percent hike over the previous quarter, underscoring a 
resurgence in Asia's appetite for coal and reflecting the recent 
mark-up in spot cargoes, two sources confirmed on Wednesday. 
   "The settlement was done at $200, and we expect the other 
buyers and sellers to use that as the reference for the 
quarter," one source close to the negotiations said. 
     
 
 (Reporting by James Regan; Editing by Richard Pullin) 
 ((jim.regan@thomsonreuters.com; +612 9373-1814; Reuters 
Messaging: jim.regan.reuters.com@reuters.net)) 
 
Keywords: COAL AUSTRALIA/PRICES