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Billiton Forecasts Increased Demand for Coking Coal
06/21/2016 - BHP Billiton Ltd. said it believes that a rise in steel production from emerging economies – India’s economy especially – will drive long-term demand growth for coking coal, reports the Bloomberg news service.
According to Bloomberg, Billiton, the world’s largest coking coal exporter, revised its fiscal 2016 production guidance by 7.5 percent, expecting increased steel production in India and growth in China over the next decade.
“The developing world needs steel, steel needs coking coal, and we have the strongest resource position in the seaborne market,” Mike Henry, president of operations of BHP’s Minerals Australia unit, said in a statement, according to Bloomberg.
