According to Indian steel producer JSW Steel's vice chairman and managing director Sajjan Jindal, JSW Steel is likely to finalize the long-term contract for supply of coking coal in FY 2009-10 with global miners like BHP Billiton and Rio Tinto by the end of April.
In a statement on the issue, Mr Jindal said, "We are in talks with the suppliers and may sign the contract by end of this month. We expect to finalize the deal at US$100/mt which is almost 66 percent lower than the previous fiscal year's price, following a steep correction in prices of coal amid the global industrial downturn."