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Glencore and Tohoku Settle Thermal Coal Price

Coal News - Published on Thu, 02 Apr 2020

Image Source: Glencore Tohoku
S&P Global Platts, citing market sources close to the matter, reported that Japanese power utility Tohoku and Australian coal producer Glencore have agreed on a price of USD 68.75 per tonne FOB for 6,322 kcal/kg GAR thermal coal shipments for delivery from this April to next March. Sources said “The price was lower than their expectations of USD 70 per tonne. The price agreement has shown some signs of weakness on Glencore's side as the price was settled with a smaller premium to the globalCOAL Index as compared to previous years.”

The current globalCOAL Index is said to be USD 69 per tonne FOB for 6,000 kcal/kg NAR Australian coal.

Last year, Tohoku and Glencore finalized the April benchmark at USD 94.75 per tonne FOB.

Tohoku is one of Japan's largest power utilities, consuming roughly about 8 million tonnes coal in 2018,

Glencore is Australia's largest coal producer with Australian thermal coal production at 72.8 million tonnes in 2019, of which 64.2 million tonnes was exported

Source :

Posted By : Yogender Pancholi on Thu, 02 Apr 2020
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