China's benchmark power coal price edges up

Source: Xinhua| 2020-06-10 19:16:37|Editor: huaxia

SHIJIAZHUANG, June 10 (Xinhua) -- China's benchmark power coal price rose slightly 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 532 yuan (about 75.25 U.S. dollars) per tonne Wednesday, a rise of 1 yuan week on week, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

A number of factors contributed to the coal price rise, analysts said.

The demand showed peak season characteristics in the short term. As rainstorm alerts have been issued in many places, fire power generation showed an obvious growing trend.

Tight domestic supply drove up the price, with the quota of imported coal in some ports nearing saturation and many open-pit coal mines in Inner Mongolia shut down due to the restrictions of environmental and land-use policies.

The decrease in spot supply also led the market to remain in a bullish mood, according to analysts.

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