The coking coal basic world prices increased by 10%

The main steel companies of Japan, though with a delay, finished negotiations for the basic prices regarding the Australian coking coal delivery for the ferrous metallurgy at the third quarter of 2016.

According to the preliminary data the basic price of the high qualitative coking coal hard with the average content of volatile agents for the period July-September were fixed at the level of 92.5 $/ton, FOB Australia, which is 10% higher than for the previous quarter (84 $/ton).

The basic price was agreed between the Japanese metallurgic company Nippon Steel & Sumitomo Metal Corporation and the Swiss company Glencore Xstrata with its coal assets in Australia, the South African Republic and Columbia. The key coking coal suppliers traditionally sign the long-term contracts on raw material delivery with its prices being reconsidered every quarter.