Chinese coal export price gallops in August

China's coal export price shoots up in August, amid surging demand on home market and cancellation of export rebates.

A contract price forged by several northern coalmine companies posts a 28 percent rise in FOB price at 67.90 US dollar/ton, far higher than Australia's offering price of 56 dollars/ton for coal exported to Japan. A coalmine company in east Shandong province even offered a FOB price at 80 dollars.

Meanwhile, the export volume plunged. From January to April this year, China's coal export dropped 28.6 percent to 15.67 million tons, while import rose 50.4 percent to 19.22 million tons.

China's coke export to Japan this year may also plummet to 700, 000 tons as against export of two million tons in 2006.