China's Guangxi to set price range for term coal

摘要

China's Guangxi province plans to set a price range for coal sold under term contracts as part of efforts to cool domestic prices. Guangxi's economic planning agency the Development and Reform Commission has fixed a price range for the coal produced in the province at 270-420 yuan/t ($37.70-58.60/t), including taxes, for NAR 3,000 kcal/kg coal on fob mine basis. The agency has yet to announce the date it will implement the price range. Price ranges for coal of other calorific values should be calculated based on the range fixed for NAR 3,000 kcal/kg coal. But spot prices should not exceed 150pc of the range's upper limit.