China's benchmark power coal price remains flat

Source: Xinhua| 2020-06-24 18:29:42|Editor: Lu Hui
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SHIJIAZHUANG, June 24 (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 533 yuan (about 75.43 U.S. dollars) per tonne Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

Analysts said that on the one hand, the stock of coal in the main producing areas remained at a low level. The coal price in the producing areas still has room to rise due to the positive trend and the coal mining businesses have been optimistic about the future market.

On the other hand, with the continuous capacity release of China's main coal transportation channels, the inventory of Bohai Rim ports has risen, and the structural supply shortage has been alleviated. Meanwhile, due to the increase of rainfall in southern China and the substitution effect of hydropower, the tight balance between supply and demand makes the coal price weak.

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