This article is 15 years old. Images might not display.
88娱乐城
In an announcement to the Hong Kong Stock Exchange, Yanzhou also said it had entered into a total of 4.29Mt of 鈥渕ain electric鈥� coal sales contracts this year at an average benchmark price of 463.86 yuan/t.
Yanzhou said these contracts were similar in volumes to last year but represented a 4% increase in price and the major producer gave credit to the coordination of government authorities for the deals.
Chinese power companies and coal producers have been at a standoff for most of this year over prices, leading to an increase in the spot trade.
In May, ANZ head of commodity research Mark Pervan noted that high Chinese domestic thermal coal prices appeared to support international markets for the commodity.
鈥淩eports of reasonable coal import demand in south China would back this view,鈥� he said.
Newcastle鈥檚 spot thermal coal closed at $74.31/t on Friday.
Various media reports have suggested Yanzhou was in takeover negotiations for Felix Resources last year.
