BUSINESS China's benchmark power coal price edges up

BUSINESS

China's benchmark power coal price edges up

Xinhua

22:59, September 11, 2019

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File photo: CGTN

SHIJIAZHUANG, Sept. 11  (Xinhua) -- China's benchmark power coal price rose slightly during the past week as production control and increased consumption helped inflate coal prices.

The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China's major ports, reached 578 yuan (about 81.2 U.S. dollars) per tonne Wednesday, a rise of one yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co.

Environmental and safety inspections in major coal-producing regions brought about production control in some coal mines, while local demand remained strong.

The daily coal consumption of major coastal power plants went up as high temperature hit the southeastern coastal areas. The purchase demand to stock up has also driven the price up as hydropower supply entering into annual weak season, analysts said.

Released by the Qinhuangdao Ocean Shipping Coal Trading Market Co. every Wednesday, the BSPI is a leading indicator of China's coal prices.

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