Macarthur Coal Limited (MCC) is the largest low volatile pulverized coal producer in the Australian Stock Market which exports its products to leading steel producers.
In stock news, MCC has settled prices for its pulverized coal with customers.
The settlement has resulted in a shorter-term pricing structure, however MCC did not divulge the price that had been struck.
The short-term pricing structure means the contracts are more likely to be in line with market prices.
This follows BHP’s agreement with Japanese-steel makers last week, where the iron-ore miner negotiated contracts for its coking coal on a quarterly pricing structure.
MCC has had a bull market run over the last year and has reached a yearly high of around the $12.50 mark.