Downstream coal users have received notice from China's largest coal producer Shenhua Group that it would keep sales price of coal for water shipping unchanged in November from that in October, according to ICIS. Shenhua would also continue to supply the Shenyou coal types introduced in late October, it said, reported cnstock.com.
Coal prices would thus be 405 yuan/tonne for Shenhun 1-5500kcal, and 374 yuan/tonne, 360 yuan/tonne, 342 yuan/tonne and 320 yuan/tonne for Shenhun 2-5200kcal, Shenhun-5000kcal, Shenhun 3-4800kcal and Shenhun 4-4500kcal, respectively. Large buyers which get 40,000 tonnes or more per month could still get 15 yuan/tonne discount for 5500kcal coal and 10 yuan/tonne discount for other coal types.
Larger coal producers including Shenhua Group, China National Coal Group, Datong Coal Mine Group and Inner Mongolia Yitai Group have reached consensus that they would try to stabilize coal prices in the market and would not cut coal price before year end, according to a source close to the China National Coal Association (CNCA).
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