Negotiations between industry's heavyweights, Japan and Australia, look like being protracted. Prices for coking coal have been raised as demand forecasts have been increased, but steam coal outlook is not so promising for producers.
Annual negotiations on prices for the coming season between Japan and Australia appears to be slow going as both sides dig their heels in over what they perceive as the market price for JFY2002-03. Neither the Japanese Steel Mills (JSM) nor the electric utilities have succeeded in finding a weak link amongst the Australian negotiators led by BHPBilliton, Anglo, Rio Tinto, and MIM....
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Approx 1000 words from CoalTrans International, March/April 2002,
page 20.
