Bloomberg reported that its analysts believe that Xstrata plc (LSE:XTA) is set to sell coal to Japan at $98 per metric ton, the lowest level seen in three years, beginning April 1, 2013.
As quoted in the market news:
That would be the first settlement below $100 since 2010. Utilities paid $115 a ton in 2012 for a 12-month accord with Xstrata, the company said in an August report. Spot prices have risen to $94.05 a ton since falling to $78.05 in October, the lowest level since 2009, data from IHS McCloskey show.
Love It Or Hate It: 40% Of Electricity In The United States Is Generated From Coal. China uses even more.
Get the latest coal supply and coal demand trends. Click below to download a FREE industry report on coal investing.
Get My Free Report
Click here to download for free