Wesfarmers settles Dec qtr coal at $280 per tonne

SYDNEY: Australian coal-to-retail conglomerate Wesfarmers has settled hard coking coal for the December quarter at around $280 per tonne, 9 percent less than in the previous quarter, with 90 percent of the shipment forecast under new prices.

The balance would be based on carry over prices from the previous quarter, Wesfarmers said, which kept its 2012 financial year coal output forecast unchanged at between 6.8 million to 7.2 million tonnes.