SteelOrbis has learned that the steam coal price negotiations between China and Japan have been postponed again. As one coal producer stated, the talks were postponed as Japan considered the Chinese price suggestion of $150/mt FOB to be too high.
The new contract price is to be applied for 5,800 kcal steam coal traded between China and Japan, effective for the period from April 1, 2011 to March 31, 2012.
Japan and Australia earlier reached an agreement on a steam coal contract price of $129.85/mt FOB for 2011-12.