Japan utilities reach agreement with Russian supplier
Published by Joseph Green,
Editor
World Coal,
Russia’s largest coal supplier and Japanese utilities have reached an agreement on a thermal coal import contract at around US$72 per t for the financial year starting 1 April. This figure is 17% lower than the previous fiscal year.
The deal with SUEK Plc was most probably based on the earlier coal contract settlements between Tohoku Electric Power and global mining groups Rio Tinto and Glencore Xstrata at just under US$68 a t, also down 17% on year.
Japanese utilities are purchasing more coal from Russia to expand their purchasing sources as they currently rely on Australia for about 74% of their total imports.
Japan imported 9.69 million t of thermal coal from Russia last year, up 23.5% from 2013 and accounting for nearly 9% of total thermal coal imports.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcoal.com/coal/04062015/japan-utilities-reach-agreement-russian-supplier-2370/
You might also like
A coal comeback may be taking place in the US
Matt Mackowiak, Director of Government Affairs at Core Natural Resources, comments on the recent signing of four executive orders by US President Donald Trump that will help propel the use of coal.
