DAILY: Leading Chinese coking coal firms cut term contract prices

On March 3, leading Chinese coking coal producers slashed their long-term supply contract prices for different coal varieties by Yuan 120-230/tonne ($16.5-31.6/t), effective from March 1, putting more pressure on the feed coal prices in the spot market, Mysteel learned from sources.

Notably, Shanxi Coking Coal Group, China's largest coking coal producer, adjusted down its term contract prices for most coking coal grades produced from mines in northern China's Shanxi from March 1 until further notice. For example, the mining group's low-sulfur primary coking coal in Liulin county, Lvliang city will be