Business Services Industry
Coking coal cushion for BHP.
Australasian Business Intelligence, June, 2002
Jun 03, 2002 (The Australian Financial Review
ABIX via COMTEX) -- Australian resources giant, BHP Billiton, will absorb commodity price cuts for 2002-2003 better than Rio Tinto. It has won significant price increases for its Queensland-based coking coal to offset price cuts in its iron ore and steaming coal exports to Japan. Recent indications from the annual pricing negotiations are that the coking coal price could rise from $US42.75 ($A75.50) a tonne to up to $US49 ($A86.50) a tonne. UBS Warburg analyst, Peter Blight, says his company will make only small changes to its earnings forecasts for BHP Billiton. Rio and BHP Billiton on 31 May 2002 accepted a price cut of 2.4 per cent for fines and five per cent for lump iron ore the two companies produce from...
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