Japanese coal benchmark to reach six-year high

Australia's Department of Industry, Innovation and Science expects Japanese utilities to settle annual thermal coal contracts with Australian miners at a six-year high.

JFY contracts cover high-grade Australian coal shipped from Newcastle to Japanese utilities

The department said in its March Resources and Energy Quarterly report the Japanese fiscal year (JFY) benchmark price for the April 2018-March 2018 period was likely to settle at US$100 per tonne for Australian coal shipped from Newcastle port to Japan.