Yanzhou Coal Mining Company Limited posted an announcement on January 31st disclosing thermal coal contract signed in Shandong Province for 2012, which declined from 2011. The growth of national major thermal coal price was 5%, the upper limit prescribed by the National Development and Reform Commission.

By now, Yanzhou Coal Mining Company has signed thermal coal sales contracts of 7.72 million tonnes in Shandong Province for 2012, down 1.28 million tons from 2011. Benchmark price (including tax) came to CNY 589.09 per ton, up CNY 17.80 per tonne from that in 2011.

Therein, Yanzhou Coal Mining Company signed national key thermal coal sales contracts of 4.29 million tonnes in 2012, equivalent to the amount in 2011. Benchmark price (including tax) averaged CNY 529.05 per ton, up 5% or CNY 25.19 per tonne from 2011. The 5% growth hit toplimit regulated by the National Development and Reform Commission for thermal coal contract price in 2012.

Shandong Province's thermal coal supplements sales contracts hit 3.25 million tons, down 10.5% from 2011. Benchmark price (including tax) averaged CNY 663.76 per tonne, up 5.3% year on year.

Besides, Shandong Province added thermal coal sales contracts of 180,000 tons, down 83.3% or 895,000 tonnes from 2011. Benchmark price (including tax) rose 5% year on year to CNY 672 per tonne.

(Sourced from SinoCast Daily Business Beat)