Australian coal producer Xstrata will sell steam coal to Japan-based Tokyo Electric Power Company at $127.5/mt FOB from October, as reported by Daily Chinese Herald. This price is up 24 percent over the price in 2010.
Australia, one of the most important coal producers and exporters in the world, exports about 200-250 million mt of high quality coal to the international market per year. Japan is the most important and biggest destination for Australian coal exports.