Jinxi Steel to buy coking coal from South Korea’s LG Corp.

Hebei Province-based Chinese steelmaker Jinxi Iron and Steel Company has announced that it has signed a letter of intent (LOI) with South Korea-based LG Corporation for the purchase of a fixed volume of coking coal each year over the next three years. The steelmaker has not disclosed the volume in question. The South Korean side has expressed its satisfaction with the agreement.