In a medium saucepan, combine the mustard powder, wasabi powder, salt, cayenne pepper, ground black pepper, honey and 1/4 cup beer. Mix well, then stir in the tomato sauce, Worcestershire sauce, lemon juice, onion and coriander.
Place saucepan on the stovetop and bring to a boil over medium high heat. Reduce heat to low and let simmer for at least 1 to 1 1/2 hours. Pour in beer as needed to keep a consistency slightly thinner than tomato sauce.