Japan’s demand for coking coal might decrease as the majority of Japan’s steel mills were forced shutdown after the massive earthquake and tsunami. Also, the overhigh coking coal prices would be slashed in the short term.
Japan, the second-largest steel production country in the world, produced 110 million tons of steel and imported 58 million tons of coking coal last year.
However, market participants keep the positive outlook on the coking coal prices in the long term as the demand will be boosted by the recovery of steel and building industries in Japan after the tragedy.
( source: www.yieh.com )