Australia's Midway climbs on deal for higher export contract prices

Midway

06/07/2021 05:55

** Shares of Midway Ltd  MWY.AX  climb as much as 9.3% to
A$1.000, their biggest intraday percentage gain since Oct 19,
2020
    ** The wood fibre exporter says it has come to agreement on
higher wood fibre export contract prices with its major
customers in Japan and China for 2021 calendar year  urn:newsml:reuters.com:*:nASX92xThc
    ** Says co secured price increase for wood fibre sales to
Japan at $180 per tonne in 2H of calendar year from $175 per
tonne for 1H 
    ** Co says it secured volume commitments, as well as higher
wood fibre export prices from China with contracts at $180.00
per tonne for 2H of this calendar year
    ** Stock posts its highest since May 27
    ** Stock down 0.5% this year, as of last close
      

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))