The reported deal was made with Japan’s Nippon Steel and JFE Steel at a price that was 47% higher than the previous quarter, according to market sources who revealed that information to Platts.

While there is no official confirmation of Anglo’s deal, traditionally BHP Billiton settles the first benchmark contract for the commodity.

But the largest supplier of seaborne-traded hard coking coal appears to have unsettled Japanese steelmakers, as BHP seeks to introduce monthly pricing for the commodity, according to a recent report from the Nikkei business daily.

BHP is expecting the devastating wet season in Queensland to affect its met coal production, sales and unit costs for the rest of this financial year.

The big miner pioneered the introduction of quarterly met coal prices last year.

While a price of $330/t is a nominal record, and surpassed the $300/t annual benchmark settled in 2008 after floods in Queensland, prices for many commodities are also climbing due to sustained weakness in the US dollar.

Anglo operates five of its six met coal mines in Queensland.