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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL


Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the price terms said, in a sign suppliers have regained the upper hand in price talks.

Xstrata, along with Peabody, had been seeking a headline price of around $US85 a tonne, effective January 2010, while buyers had aimed for a price closer to about $US75.

The outcome is in contrast to early 2009, when another Japanese utility, Chubu Electric Power Co, secured a price cut of up to 44 per cent to $US70-$US72 a tonne for the fiscal year ending March 2010, free on board. Many Japanese utilities negotiate prices based on fiscal rather than calendar years. To read more Reuters / Business spectator



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Recent News

Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...


Tuesday, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...


Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...


Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...


Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...


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