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Indian steel price as low as USD 160 a tonne for the Q4?

Indian steel price as low as USD 160 a tonne for the Q4?

Bloomberg, citing 3 three people familiar with the matter, reported that India’s biggest steel producers are in talks to buy coking coal at the lowest price since 2010.

The people said that they expect to contract the steelmaking ingredient at as low as USD 160 a tonne for the Q4, 32% below year ago prices.

Steelmakers in Korea and Japan that set a benchmark for India have negotiated similar cuts and reported level or January March quarter is USD 165 FOB for premium quality hard coking coal from Australia.

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