200% coking coal price spike expected
Negotiations between Nippon Steel Corp. and Australian and British mining giant BHP Billiton are likely to result in a 200 percent spike in the price of coking coal in the next business year, sources said Saturday. JFE Steel Corp. and other major Japanese steelmakers are likely to accept price rises of similar magnitude, the sources said. Overall costs for the Japanese steel industry are likely to be pushed up by