In a latest development, few of the major steel makers in Japan and several global Coking Coal suppliers have agreed upon a contract price of USD 115/MT FoB Australia for Pulverized Coal Injection (PCI) materials, according to market hearsay.
The agreed contract price for the quarter is 15% lower than that for the second quarter. The settlement was reached at the terminal days of the last week.
In the meantime, concerns of supply tightness in China and possible supply cuts there have intensified Coking Coal imports in that country, resulting in the spot prices of the coal rising in Australia.
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