According to industry sources, Japanese mills have inked a coking coal supply contract with Australian coking coal supplier Anglo American Corporation for the fourth quarter, with a reduction of 10 percent in the price to about $285/mt.
Market players stated the coking coal contract price has declined over the past three quarters, and that it is expected to continue at low levels in the short term. As Japan steel exports lack a competitive edge and as the domestic market has softened, Japanese coking coal demand is unlikely to increase