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Nippon Steel opts for index-based pricing for hard coking coal

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Report summary

On 12 June Nippon Steel and Sumitomo Metal Corporation announced that it will set quarterly hard coking coal prices using three indices available on the spot market. The new method will be applicable from Q2 2017 the settlement for which has been delayed due to market uncertainty and wild price swings caused by Cyclone Debbie rail outages. It is not clear what weightage indices will carry and whether the new system will apply to Australian miners or to everyone.The report discusses possible implications for metallurgical coal market.

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    Nippon Steel opts for index-based pricing for hard coking coal

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  • Low-volatile hard coking coal prices (FOB Queensland)
  • Spot vs contract metallurgical coal in seaborne trade, Mt

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