Nippon Steel to set April to June coking coal prices off spot price indexes

June 12, 2017

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Nippon Steel & Sumitomo Metal Corp, Japan’s biggest steelmaker, has ended quarterly negotiations with Australian suppliers over coking coal prices for April to June and will set quarterly prices based on spot price indexes, a spokesman said on Monday.

The move suggests the end of the decades-old fixed price settlement mechanism between Japanese steelmakers and global miners and follows recent swings of the prices of the key steel-making ingredient.

Category: General