BHP Says Some Customers Want Monthly Coking Coal Pricing

Bloomberg.com reports that BHP Billiton (LSE:BLT,NYSE:BHP) says that some customers have asked to switch from quarterly to monthly pricing for coking coal contracts.

The story is quoted as saying:

BHP and Brazil’s Vale SA this year dropped a custom of setting annual prices for steelmaking commodities including iron ore and coking coal in favor of quarterly agreements as they bet on rising prices. The China Iron & Steel Association is in talks with iron ore producers seeking monthly prices, China Minmetals Corp., the nation’s biggest metals trader, said. Still, Kloppers said that BHP is “not uncomfortable with quarterly pricing.”

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