The price, which serves as an industry benchmark for supplies of seaborne thermal coal in Asia, was 14% lower than a price agreed for the year through September this year.
Iron ore prices in China reached a record high on Tuesday as market participants wrestled two dilemmas, namely the weather-related disruptions from Australia and the safety outages in Brazil.
The deal was largely in line with current spot treatment charges in China, which have soared to $240 a tonne from a low of $12.50 at the start of 2018.
The companies say that their OptiMine Analytics technology is particularly useful when it comes to dealing with failing equipment and regular maintenance.