Coal price jumps 16pc

GLOBAL miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $US109.77 per tonne for supplies of thermal coal from Australia for the year through September 2019, according to a source with direct knowledge of the matter.

The agreed price, which serves as an industry benchmark for supplies of seaborne thermal coal in Asia, was 16 per cent higher than the contract for the year through September this year.