Rio Tinto Group has agreed to cut coking coal prices for India’s JSW Steel Ltd. by 43 percent for the last three months of an annual contract after a slump in global demand.
Prices will be slashed to $175 a metric ton for the three months ending March 31, from $305 a ton, JSW Finance Director Seshagiri Rao said today in a telephone interview in Mumbai. JSW is India’s third-largest steelmaker.
Source: Bloomberg
See also: Rio Tinto Coal Price Cut May Signal Reduction for Brazil Mills
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