NSSMC picks index system for quarterly premium hard coking coal cargoes

Nippon Steel & Sumitomo Metal Corp (NSSMC) is moving to an index-based system to price quarterly contract cargoes of premium coking coal, a spokeswoman for the mill confirmed on Monday June 12.

The shift is not limited to just the April-June quarter but will apply to future contract cargoes as well, she told Metal Bulletin.
The new system will involve using a three-month average of a basket of indices to price each quarter’s shipments.
But the spokeswoman for NSSMC did not confirm which three months – March-May or April-June – would be used to determine the contract price for the second quarter.

The departure from the usual practice of one-on-one negotiations between Japanese mills and global producers to determine the benchmark price for...


Deepali Sharma

June 12, 2017

14:32 GMT