Australian coking coal supplier Anglo American Corporation has inked a contract with South Korean steelmaker Pohang Iron and Steel Co Limited (POSCO) to decrease the coking coal contract price for the fourth quarter by 10 percent.
The contract price of Anglo American's quality hard coking coal in German Creek, Queensland stands at $285/mt FOB, down 10.5 percent compared to $315/mt in the previous quarter; contract price of coking coal in North Moranbah has decreased by 10.7 percent to $280/mt FOB, while the contract price of quality PCI (Pulverised Coal Injection) coal in Foxleigh has fallen 10.6 percent to $208/mt FOB, all compared to the previous quarter.