Exclusive-BHP-Anglo American deal raises alarm in Japan's steel industry [Yahoo! Finance]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Yahoo! Finance
BHP Group could become too dominant in the global supply of coking coal if it goes ahead with a takeover of Anglo American. Australia is the world's biggest exporter of coking coal and top supplier to Japan, making up around 60% of its imports, with most of the steel-making ingredient coming from the state of Queensland, where BHP and Anglo American are the two largest producers. Steelmakers' concerns about BHP's coking coal market power could derail a deal if the Australian giant comes back with a revised bid for Anglo American, after being rebuffed with a $39 billion offer last month. "BHP already has a large share of the supply of high-quality hard coking coal in the seaborne trade, and we will take measures to ensure that further oligopolisation will not impede sound price formation and stable supply," a JFE Steel spokesperson said, declining to elaborate on what measures they could take. Representatives of Japanese steelmakers met with Queensland government officials rais
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