Mining giant Glencore strikes one of Japan's most expensive ever coal deals
Glencore, the mining and commodity trading giant, agreed to supply coal to a Japanese customer at one of the highest prices ever paid by the nation, threatening to further accelerate inflation.
Nippon Steel agreed on an annual supply deal through March with Glencore for power plant coal at $375/t, according to people with knowledge of the deal, who asked not to be identified because the information is private. The agreement is likely one of the most expensive coal contracts ever signed by a Japanese company, one of the people said.