Japan: Downward pressure on coal costs continues

摘要

IN a move that is likely to have a significant impact on future price talks between OEMs and steel suppliers, Japan's four major steelmakers, Nippon Steel, JFE Steel, Sumitomo Metal Industries and Kobe Steel, have reportedly agreed to pay US$98/t for coking coal for the fiscal year beginning 1 April 2007 in price negotiations with Anglo-Australian energy giant BHP Billiton.