XSTRATA Coal has reportedly settled an annual thermal coal contract with Tohoku Electric Power at...
According to the trade sources who spoke to Reuters, other Japanese power companies are likely to settle around this new benchmark.
The price is 2.6% down from annual thermal coal deals struck in Japan of $129.85/t FOB for the Japanese financial year starting in April.
But Xstrata’s recent deal was ahead of the Newcastle-indexed price for thermal coal of $123.57/t FOB last Friday.
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