Tohoku and Glencore set thermal coal contract price at $110/t for FY’22

Mining major Glencore and Japan’s Tohoku Electric Power agreed on a price of $109.9/t, FoB basis, for thermal coal supply from Australia for the ongoing year. This is up against last year’s contract price of $68.8/t and the lowest since their financial year deal in 2016. The price serves as an industry benchmark for supplies of seaborne thermal coal in Asia.