The thermal coal market in South Africa has signed two contracts on 23 May.

These two contracts are both 75,000 tons and the FOB prices are US$ 54/MT and US$ 54.5/MT. The shipments are October and November in this year.

Besides, Australian thermal market also settled down six contracts on the same day. Among them, there are one 15,000 tons contract, one 30,000 tons order and four 60,000 contract.

The FOB prices are between US$53.75 to US$56.3/MT. Shipment is from the third quarter in this year to 2010.

Due to the tight supply for thermal coal, the price in South Africa has been increased by US$3/MT in the past three weeks.

The price was US$6/MT higher than Australian Market.