[miningmx.com] – GLENCORE and Tohoku Electric Power Company have agreed a coal price of $67,80 per tonne of coal exported from Australia, said Reuters citing sources with direct knowledge of the matter.
The contract agreement, which will most likely be followed by other Japanese buyers of coal, is 17% lower than last year’s price and is the same as that agreed between Tohoku and Rio Tinto last week, said Reuters.
Australia is by far the biggest supplier to Japan, accounting for about 74% of its thermal coal imports last year, said Reuters.
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