U.S. Spot Coking Coal Prices Varied Amid Benchmark Negotiations

Dec. 3 (Bloomberg) -- U.S. spot metallurgical coal prices were mixed amid negotiations on the benchmark contract, according to Energy Publishing Inc.

Spot prices for low-volatility coking coal slipped $5.67, or 2.5 percent, to $225 a ton in the week ended today, according to Energy Publishing, a Knoxville, Tennessee-based data provider. Prices for high-volatility coal increased $3, or 1.3 percent, to $225.

BHP Billiton Ltd. is seeking an 8 percent increase in coking coal prices to $225 a ton for the next quarter in talks with Japanese steelmakers, according to a report in Nikkei newspaper.

“Spot business done during the next couple of weeks is likely to be based, in some way, on the new settlement,” Energy Publishing said.

Energy Publishing says it surveys buyers and sellers of coal to determine pricing.

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.