Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Posco Wins 12% Second-Quarter Coal Price Reduction, UBS Says

Feb. 29 (Bloomberg) -- Posco, the world’s third-largest steelmaker, won a 12 percent cut in second-quarter hard coking coal prices from Teck Resources Ltd., according to UBS AG.

Posco will pay $206 a metric ton for three-month contracts from April 1, UBS analysts including Sydney-based Tom Price said yesterday in report, without saying where they got the information. That compares with the $235 a ton price agreed for this quarter and UBS’s forecast of $210 a ton.

“Teck and Posco have never settled a benchmark quarterly price contract before, but this deal should still be a guide for similar” transactions, UBS said. Expect further deals “at this level in coming weeks,” it said.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Andrew Hobbs in Sydney at ahobbs4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.