China's benchmark power coal price remains flat

• Friday, May 15, 2020
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[Ferro-Alloys.com] 

 

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 526 yuan (about 74.15 U.S. dollars) per tonne on Wednesday, according to Qinhuangdao Ocean Shipping Coal Trading Market Co. Ltd.

 

Analysts said under the dual effects of Datong-Qinhuangdao Railway Line overhaul and increased coal transfer, coal inventory in ports has declined. Meanwhile, the daily consumption of downstream power plants was boosted by the rise of the temperature.

 

In April, China imported 30.95 million tonnes of coal, a year-on-year increase of 22.3 percent. It indicated that imported coal still plays a strong role as a replacement.

 

The unexpected increase in imported coal and the downward trend in coal prices in some areas have, to some extent, curbed the rebound in coal prices.

 

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

 

Source: Xinhua

 

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