BHP Billiton's efforts to begin cargo-by-cargo pricing met with enormous opposition

摘要

Two things to know about the met market: 1) BHP Billiton's aspirational effort to move stuff to spot pricing, essentially, has the thing roiled; and 2) it will get straightened out because, in the end, people have to have the coal. So far, it appears BHPB is alone in pressing for cargo-by-cargo pricing - and yeah, that's what it amounts to. Whether in the U.S., Australia, Canada or wherever, there appears to be zero support from producers. Support from buyers might be sub-zero, if that were possible.