Tohoku, Rio Tinto Set Annual Australian Coal Price at US$67.80/mt FOB

摘要

Japan’s Tohoku Electric Power Co. and Rio Tinto have settled annual contract price for Australian thermal coal at US$67.80/mt FOB at GAR 6,322kcal/kg basis. The contract will begin on April 1. Tohoku had settled the price with Glencore at US$81.80/mt FOB a year earlier, so the new price was reduced by US$14 (17%). However, the two prices are not comparable as the different criteria apply to different suppliers.