SHIJIAZHUANG, Oct. 9 (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 578 yuan (about 81.2 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.
Analysts said that the daily consumption of coastal power plants had surpassed the level of the same period last year for 10 days in a row, which helped support market sentiment, with the accelerated pace of destocking of power plants.
However, as coal price in producing areas began to ease, the lack of transportation demand led to little trading volume at ports, and the rising inventory directly restricted the market price.
If the current strong daily consumption can be sustained, winter stock demand will lead to an increase in procurement, which will add impetus to the market, according to analysts.