BEIJING (Reuters) - China's two largest coal producers Shenhua Energy Co (>> China Shenhua Energy Company Limited) and ChinaCoal (>> China Coal Energy Company Limited) agreed more long-term contracts at a discount price to current spot market rates, the Securities Times reported on Friday.

Shenhua and ChinaCoal inked agreements with China Datang Corp (>> Datang Intl Power Generation Co Ltd), Huaneng Group (>> Huaneng Power International Inc) and China Guodian [CNGUO.UL] at 535 yuan ($78.60) per tonne, the Securities Times reported citing unnamed sources.

The contract price would be a reference point that could fluctuate depending on physical settlement prices at the end of each month, according to the newspaper. Buyers and sellers will equally share risks of price moves, the newspaper said.

Shenhua and ChinaCoal signed similar deals with Huadian Group (>> Huadian Power International Corp. Ltd) and State Power Investment Corp [CPWRI.UL] on Tuesday.

ChinaCoal and Shenhua were unavailable for comments.

(Reporting by Meng Meng and Josephine Mason; Editing by Tom Hogue)