XSTRATA Coal has reportedly settled an export thermal coal contract with Tokyo Electric Power at ...
A source close to the deal told Dow Jones Newswires the contract was for 1 million tonnes.
The price is about $4/t or 5% higher than indexed Newcastle thermal spot prices for the week ending September 10.
Traditionally coal contracts were settled on an annual basis in alignment with the Japanese financial year but over the past few months the delivery timeframes have varied following the industry acceptance of quarterly contracts.
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