Yanzhou Coal signs lower supply deal

Yanzhou Coal Mining, the listed unit of the nation's fourth-largest coal miner Yankuang Group, has signed contracts to sell 9 million tonnes of power-station coal to its home market Shandong province this year, 10.1 per cent less than last year. The average price is 571.30 yuan (HK$675) per tonne, down 1.2 per cent from last year, due to a slight change in product mix. The central government early last month ordered miners not to raise contract prices for this year.