SYDNEY, Oct 12 (Reuters) - Peabody Energy Corp BTUUQ.PK and Nippon Steel 5401.T have set the fourth quarter metallurgical coal contract benchmark at $200 a tonne, a 116 percent hike over the previous quarter, underscoring a resurgence in Asia's appetite for coal and reflecting the recent mark-up in spot cargoes, two sources confirmed on Wednesday.
"The settlement was done at $200, and we expect the other buyers and sellers to use that as the reference for the quarter," one source close to the negotiations said.