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Glencore price negotiations failure fuels thermal coal rally

A FAILURE by Glencore and a Japanese utility to reach agreement over thermal coal contracts has helped push Newcastle spot prices to their highest level in six years of US$120 per tonne.

Lou Caruana
Coal from Newcastle increased in price after negotiations broke down between Glencore and a Japanese utility.

Coal from Newcastle increased in price after negotiations broke down between Glencore and a Japanese utility.

Strong demand from China to feed power demand and industrial growth using Australia's cleaner coals had also contributed to the higher prices, ship brokerage firm Banchero Costa said in a note to clients....

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