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• U.S. Energy Information Administration claims that China uses almost as much coal in a year as the rest of the world combined, accounting for 47 percent of coal consumption. The organisation claims that 3.8 billion tonnes in 2011, up 9 percent.

Marius Kloppers, the chief executive of Australia based mining giant BHP Billiton (BHP) stated that he is looking forward for the iron price to remain closer to a record high due to the rising Chinese demand for steel. Although the concerns regarding the economic melt down in Greece did slashed the prices of exchange-traded metals during the earlier month by as much as 10 to 20 percent, the implied price for the iron ore from Australia is still at a record high.

Mining giant BHP Billiton’s (BHP) campaign to come out of the annual coking coal pricing is picking up its pace as the coal indexes are being set up for the first time. In addition to this, Teck resources, the second largest exporter of the world is going to join the campaign against benchmark pricing. Data provider Platts is currently looking forward to reveal a daily cash price which is believed to be targeting a start-up during mid-March.