Japanese firms to buy '09 Chinese coal $78.50/T-sources Fri Jun 19, 2009 7:27am IST Email | Print | Share| Single Page[-] Text [+] SHANGHAI/PERTH, June 19 (Reuters) - Japanese utilities have agreed 2009 thermal coal contracts with Chinese producers at $78.50 a tonne, down about 46 percent from a year ago but above initial asking prices from China, three sources said on Friday.
The headline price, which includes China's 10 percent export tax, is based on coal with a calorific value of 5,800 kcal/kg (NAR) and compares with last year's agreed price of $144.43 a tonne, said one of the sources with a Japanese utility.
Chinese producers, including Shenhua Energy Co (1088.HK: Quote, Profile, Research) and China Coal Group (1898.HK: Quote, Profile, Research)(601898.SS: Quote, Profile, Research), have agreed to sell a total of 1.31 million tonnes of coal to the 10 major Japanese utilities, down from 3.5 million tonnes last year, the sources said. (Reporting by Rujun Shen and Fayen Wong, Editing by Jacqueline Wong)
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