China and Japan sign off export price

AFTER plenty of delays Shandong province coal producer Yanzhou Coal Mining Company finally agreed with Japanese buyers on a coal export contract price.

Staff Reporter

Reuters reported the export price agreed on by the Chinese producer was US$29.27 per tonne for the fiscal year ended 2003.

The drop in contract price by more than four percent will affect the coal producer, due to almost 50% of the company’s sales are obtained from exports.

Rueters said the price was US$1.35/tonne lower than the previous year despite analysts predicting the value of thermal coal would drop by US$2/tonne.

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