Japan to Buy Xstrata’s Coal at Lowest Price Since 2013

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.

Click here to read the full Bloomberg report.