The mayor of China's Yulin city, Shaanxi province, has urged local state-owned coal mines to lower thermal coal prices by 100 yuan ($16) per tonne and set price ceilings for long-term coal supply contracts.
Thermal coal in term contracts with state-owned coal miners should not be sold at more than 1,200 yuan per tonne, while privately-owned enterprises should be offered at no more than 1,500 yuan per tonne, sources told Fastmarkets on Wednesday October 20.There has been market...