JSW Steel Ltd has slashed coking coal rates paid to Rio Tinto Group by 43% to US$175 a ton for the last three months of an annual contract ending March 31
Steel Authority of India Ltd. (SAIL) is yet to renegotiate coking coal prices with suppliers, Steel Secretary Pramod Rastogi said on Monday. India's second-biggest steel producer currently pays US$305 per metric ton for coking coal it buys from international miners.
JSW Steel has slashed coking coal rates paid to Rio Tinto Group by 43% to US$175 a ton for the last three months of an annual contract ending March 31, while Tata Steel is also renegotiated lower prices.
Source: Indiainfoline.com
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