BHP Billiton has reportedly moved, finally, to table a coking coal price in India, but there is a twist.

According to sources, BMA has told coking coal customers it will release provisional monthly prices next week with no quarterly pricing.

The source said BMA today released a USD 300 provisional monthly price in India. At this stage it is unclear whether BMA will roll out this model globally or only to Indian buyers.

The development will come as little surprise to coking coal buyers.

BMA has been trying to push buyers to accept monthly pricing since the start of negotiations for 1Q of the Japanese fiscal year.

Japanese steel mills reportedly refused to meet with the company and settled instead with Anglo Coal at USD 330 per tonne for the first quarter.

(Sourced from coalportal.com)