Yanzhou Coal to export 10.4 million ton coal to Japan in 2004
One of biggest coal producers in
China Yanzhou Coal Mining recently concluded its annual meetings with Japanese importers and reached a contract regarding coal exports to
Japan.
According to the contract, Yanzhou Coal will export 10.4 million ton of coal to
Japan in 2004 at an average price of $51.93 per ton, indicating an increase of 71% compared to the price fixed last year. This rise is attributed to stronger Australian Dollar and higher shipping costs.
Exports to
Japan constitute semi-soft
coking coal of 5.25 million tons and thermal coal of 5.15 million tons with a price of $55.5/ton and $48.3/ton respectively.
By the way, agreed export volume is almost 87% of company's total volume planned to be exported this year which is equal to 12 million ton. In 2003 this figure was 13.4 million tons. Decline in export volume is commented as high demand from domestic market.
It is reported that the new contract prices will be retroactive with effectiveness from April 2004 for one year.