Xstrata, Chubu agree 125 pct thermal coal price rise

PERTH, April 7 (Reuters) - Xstrata, the world's largest thermal coal exporter, has settled thermal coal contracts with Japan's Chubu Electric for the business year starting this month at $125 a tonne, up 125 percent from a year ago, sources said on Monday.

The settlement price is up from last year's $55.65, based on Xstrata Plc's (XTA.L: Quote, Profile, Research, Stock Buzz) final settlement price with a group of Japanese utilities. (Reporting by Fayen Wong in Perth, Nao Nakanishi in Hong Kong and Osamu Tsukimori)