Major cuts to coking coal prices

Coal Investing News reports coking coal prices were slashed.

Rio Tinto Group recently gave a big break to JSW Steel Ltd. on an existing contract.

The mining major’s move to cut its coking coal prices for the Indian company by 43 per cent are a dark sign of things to come for coking coal miners. “It’s an indication the market is going off rather quickly and rather savagely — to agree to reduce a previously agreed price, there’s really no other conclusion,” one analyst commented.

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