CHINA China's benchmark power coal price remains flat

CHINA

China's benchmark power coal price remains flat

Xinhua

20:12, April 22, 2020

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A worker carries out unloading operations at a coal plant in Ereenhot in the Inner Mongolia autonomous region. (File photo: Xinhua)

SHIJIAZHUANG, April 22 (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 530 yuan (about 74.84 U.S. dollars) per tonne Wednesday, according to the Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that high inventories at ports and power plants during the offseason have led to further declines in spot coal prices while the improved daily consumption of coastal power plants and the grim situation of coal imports made the index stop falling.

In addition to stimulating coal demand, appropriate adjustment to the production capacity of coal mines and coal imports are key to fundamentally balance supply and demand thus stabilize coal prices, according to analysts.

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

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