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Tuesday, August 14, 2018 - 3:33:40 PM
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Mining News Pro - Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018 to March 2019 at $110/t, according to several people with knowledge of the matter.
The deals were struck between Glencore and Japanese utilities such as Shikoku Electric, Chugoku Electric and Kansai Electric after bilateral talks, a source at a Japanese coal buyer said, requesting anonymity as he was not allowed to speak in public about commercial deals.
Glencore didn`t respond to a request for comment.
A Chugoku Electric spokesman confirmed it has struck some annual contracts at $110/t with Glencore, but said some other deals were agreed at different prices or index-linked prices. Shikoku Electric said it settled the April-March contract with Glencore last month but declined to disclose the price.
Kansai Electric was not immediately available for comment.
"We`ve agreed with Glencore at $110/t for the April-March contract late last month," another source at a utility directly involved in the talks said, also declining to be named.
A trader with a major commodity merchant also confirmed the deals.
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