Price of thermal coal at all-time high

Price of thermal coal at all-time high The price of thermal coal under annual contracts has been settled at an all-time high of $130 a tonne, up almost a third from a year ago, amid strong demand in Asia and supply disruptions in Australia earlier this year.

Xstrata and Chugoku Electric closed a deal for the fiscal year starting April 1 with the London-listed miner supplying thermal coal to the Japanese power company at a price more than 32 per cent higher than the $98 a tonne level of 2010-11, people familiar with the talks said.
http://link.ft.com/r/WDI4RR/V1RZ8L/RNF1Y5/HDZU94/401FDS/JY/h?a1=2011&a2=4&a3=1