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Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
ReutersGlobal miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for the year through March 2020, a source with direct knowledge of the matter said.
 
The price, which serves as an industry benchmark for supplies of seaborne thermal coal in Asia, was 14 percent lower than a price agreed for supplies for the year through September this year.
 
The agreement helps restore clarity to an opaque market after Glencore and Tohoku Electric abandoned the annual talks for April-March supplies last year.
 
The Australian miner later agreed on a price of $110 per tonne in August for some contracts with other Japanese thermal coal buyers for the April to March period.
 
Glencore has two annual benchmark supply contracts with Japanese utilities, typically negotiated by Tohoku Electric, one for April through March and the other for October through September that takes account for later market conditions.
 
With annual imports last year of slightly less than 114 million tonnes, Japan is one of the world’s biggest importers of thermal coal. Australia supplied a little over 70 percent of those imports in 2018.
 
A Tohoku spokesman declined to comment. Glencore could not immediately be contacted for comment.
Source: Reuters


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Recent News

Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...


Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
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Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
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Monday, 21 January 19
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