Wednesday, 13 Jul 2011
It is reported that Yang Quan Coal Industry Group filed last night that it will lower the per ton purchase price of crude coal by CNY 10 per tonne to CNY 490 per tonne for the third quarter.
As agreed with parent group, Yang Quan crude coal purchase price is adjusted quarterly and the latest adjustment marks a 2% drop from the previous quarter.
It is the first reduction in the crude coal price in the first half after a period of continuous price increases. The price stayed at around CNY 435 per tonne in the second half of 2010 and rose to CNY 500 per tonne since the beginning of 2011.
(Sourced from yicai.com)
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