China's Gansu issues guidance prices for thermal coal contracts

Northwestern China's Gansu province has issued guidance prices for medium- and long-term thermal coal contracts signed between domestic coal miners and power generators, in a bid to ensure coal prices moving within a reasonable range and keep coal supply stable, according to an announcement from the provincial development and reform commission on July 5.

According to the announcement, selling prices of Gansu-mined 5,500 kcal/kg NAR thermal coal supplied under medium- and long-term contracts should fall between Yuan 420-620/tonne ($57.7-85.2/t), on ex-mine basis with VAT, effective July 1. Term contract prices for other calorific-value coal grades in the province need to be adjusted according