BHP-Anglo deal raises alarms in Japanese steel industry

BHP-Anglo deal raises alarms in Japanese steel industry

Japanese steelmakers are wary of BHP's potential takeover of Anglo American.
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Japanese steelmakers fear BHP's potential takeover of Anglo American could tilt the global coking coal market in favour of one giant. With Australia as a top supplier to Japan, BHP's dominance raises concerns about fair pricing and stable supply. Japanese firms are wary, as BHP eyes expansion in high-quality coking coal, while Queensland demands competitiveness. The deal faces scrutiny from Japan's Fair Trade Commission, hinting at a complex battle over market balance and state approvals.

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SOURCE: REUTERS

By Melanie Burton and Yuka Obayashi

MELBOURNE/TOKYO, May 9 (Reuters) – Japanese steelmakers have raised concerns with Australian authorities that BHP Group could become too dominant in the global supply of coking coal if it goes ahead with a takeover of Anglo American.

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