BRI NEWS China's benchmark power coal price remains flat

BRI NEWS

China's benchmark power coal price remains flat

Xinhua

10:28, February 27, 2020

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File photo: VCG

SHIJIAZHUANG, Feb. 26 (Xinhua) -- China's benchmark power coal price remained flat during the past week.

The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China's major ports, stood at 559 yuan (about 79.7 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that the thermal coal market saw weak supply and demand last week due to the ongoing novel coronavirus outbreak. The flat market came amid a series of factors including the increasing supply in the main coal-producing areas, the continuous recovery of transportation and logistics efficiency, the still-weak coal demand of downstream industries, and the relatively high coal inventory in power plants.

Released every Wednesday, the BSPI is a leading indicator of China's coal prices.

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