JSW Steel, one of the largest steelmakers in India, has signed a coking coal contract for the current year at $100/mt.
Sajjan Jindal, vice chairman and managing director of JSW said that the deal was signed with an Australian company; however he refused to divulge its name.
JSW Steel had contracted coking coal at $305/mt last year.
Mr Jindal said that the company was currently buying iron ore from the spot market at $17-18/mt.