Tohoku Electric and Rio Tinto settle 2015 thermal benchmark

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Report summary

On 3 April, Japanese utility, Tohoku Electric Power, agreed to pay Australian miner, Rio Tinto, US$67.8/t FOB Newcastle for prime quality thermal coal (6,322 kcal/kg GAR) for April-March delivery

Table of contents

    • JPU business is a prize
    • What does the settlement mean for Australia?
    • How about other exporting countries?
    • Conclusion

Tables and charts

This report includes 5 images and tables including:


  • Changing pattern of JPUs thermal coal specifications
  • JPUs settlement and Newcastle spot (US$/t, nominal)
  • Japan reliance on Australia not reducing...
  • ... but Australian supply shifting to other markets
  • Total cash cost of premium thermal-capable mines (FOB Newcastle port, US$/t)

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