Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Tohoku Electric Power still to agree Japanese financial year term contract coal price with major supplier

Agriculture | Energy | Coal | Electric Power | LNG | Natural Gas | Oil | Metals | Steel | Petrochemicals | Shipping

Commodities 2020


Platts Global Coal Alert

Capital Markets | Commodities | Electricity | Energy | LNG | Natural Gas | Shipping | Leveraged Finance & High Yield | Materials | Building & Construction | Financial Services | Banking | Infrastructure | Structured Finance

Infrastructure Summit


India okays allocation of 5 coal mines; allows part output sale in open market

Tohoku Electric Power still to agree Japanese financial year term contract coal price with major supplier

Singapore — Japan's traditional lead negotiator for the Japanese coal reference price, Tohoku Electric Power, confirmed Friday that it has not agreed a benchmark price with Glencore for shipments of its Newcastle 6,300 kcal/kg GAR thermal coal over the Japanese financial year starting April 1, 2018.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

In an emailed response Friday to S&P Global Platts questions asking whether the power utility had settled a JFY April-year term contract price with Australian coal producer Glencore, Tohoku Electric said: "No."

"We have terminated and have no intention to resume the talks with the major supplier for the April 2018 JFY contract," Tohoku Electric added.

Tohoku Electric said in a separate response received June 25 that it had ended its price negotiations for April 2018-March 2019 Japanese financial year term contracts after being unable to reach an agreement with its major supplier Glencore.

Earlier in April, Tohoku Electric confirmed it had agreed some term contract business for the April 2018-March 2019 JFY with some smaller Australian thermal coal shippers.

Reported prices for these deals were about $95/mt FOB Newcastle, basis 6,300 kcal/kg GAR, but several market sources told Platts that they did not consider the volumes large enough to constitute a Japanese reference price benchmark.

Meanwhile, there was unconfirmed market speculation Friday that some of Japan's smaller power utilities may have agreed an April term contract price with Glencore at $110/mt FOB Newcastle, basis 6,300 kcal/kg GAR, equivalent to 6,000 kcal/kg NAR.

Three separate sources told Platts that the deal may possibly involve Japanese power companies Chugoku or Shikoku, or likely a combination of the two buyers and another JPU Kansai, though this could not be immediately confirmed with the companies.

Other market sources were skeptical of the reports because the price of $110/mt FOB Newcastle 6,300 kcal/kg GAR is significantly below current traded levels for equivalent Newcastle 6,000 kcal/kg NAR thermal coal on globalCOAL at about $122.50/mt FOB for August shipments.

--Michael Cooper,

--Edited by James Leech,